Unable to beat Apple, HP takes on IBM with major restructuring plan

“It’s official: Hewlett-Packard and IBM are twins!” Michael Comeau writes for Minyanville. “Well, soon to be, anyway.”

Yesterday, “HP dropped a number of bombs in the form of a major restructuring plan that will refocus the world’s No. 1 computer builder on to the enterprise,” Comeau writes. “HP is killing its mobile-device business, which was built on the $1.8 billion acquisition of Palm last year. The company’s troubled TouchPad tablet, and all smartphones, will disappear. It is bidding $10.3 billion for UK software company Autonomy, which specializes in unstructured-data management. HP is considering a spin-off or sale of its PC business, which is the world’s largest. This move echoes IBM’s sale of its PC division to Lenovo in 2004.”

Comeau writes, “The most important takeaway here is that HP’s abandonment of its consumer business is an acknowledgment that it simply can’t compete with Apple.”

Read more in the full article here.

[Thanks to MacDailyNews Reader “Fred Mertz” for the heads up.]

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