Many of my customers already know how I feel about HP, they’re faulty products, and their lack of customer support or answers. Well things are going to get worse:
H-P Explores Quitting Computers as Profits Slide
H-P said its board is evaluating strategic options for its PC business, which could include a “full or partial separation.” It also will abandon efforts to sell tablets and smartphones that challenged Apple Inc.’s iPad and iPhone.
At the same time, H-P agreed to buy U.K. software firm Autonomy Corp. for about $10.25 billion, seeking to move further into the higher-profit business of analyzing data for corporations.
The technology giant has been in tumult since its former chief executive was ousted a year ago over ethics concerns. Since then, H-P shares have slumped as it has changed over much of its board and senior executives and lowered financial targets three times, most recently on Thursday.
Investors reacted coolly to the news, which emerged during market hours. H-P shares fell 9% to $26.73 in after-hours trading Thursday, after declining 6% to $29.51 at 4 p.m. on the New York Stock Exchange, amid a broad market selloff.