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HP Reports Third Quarter 2011 Results and Shutting Down PC and webOS Devices Operations

August 18, HP just announced financial results for its third fiscal quarter ended July 31, 2011, as well as the commencement of a company transformation described in detail in separate press releases.

HP is — and now, was — the No. 1 Windows PC vendor. However, the company today announced that it is selling off its PC business, dropping webOS and discontinuing the TouchPad so as to focus on enterprise software and cloud services.

“HP will discontinue operations for webOS devices, specifically the TouchPad and webOS phones. The devices have not met internal milestones and financial targets. HP will continue to explore options to optimize the value of webOS software going forward.”

“We’re focused on improving performance across the business,” said L

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