Is Hewlett-Packard Company (NYSE:HPQ) Making A Comeback In Smartphone Market?

Posted by Chris Bell October 25, 2013 0 Comment 2486 views

Hewlett-Packard Company (NYSE:HPQ) is the largest personal computer maker in the world. In 2012 April, the company had acquired Palm, in an attempt to make a foray into the smartphone market. The company’s plan of integrating Palm’s web Operating system did not meet with much success and the company eventually ended up selling off the technology to LG at a massive loss.

Patent sale

Rumor has it that Hewlett-Packard Company (NYSE:HPQ) is now back in the smartphone market- this time in connection with a patent sale. When the company sold the Palm webOS to LG, it had not sold the patents that were related to it. Instead, those patents had only been licensed to LG. Now, Hewlett-Packard Company (NYSE:HPQ) has approached numerous potential buyers for this patent portfolio and also taken away all the restrictive conditions that were attached to in, in order to speed-up the sale. There is a distinct possibility that LG will be one of the potential buyers as they are already licensing these patents.

Thursday’s trading

In Thursday’s trading, Hewlett-Packard Company (NYSE:HPQ) rose by 0.51%. The opening price of the shares was $23.78, which climbed to an intraday high of $24.04 and dipped to a close of $23.88. Approximately 9.06 million shares were traded on Thursday while an average volume of 16.33 million shares were traded over a 30 day period. The 52-week low of Hewlett-Packard Company (NYSE:HPQ) shares is $11.35 and its 52-week high is $27.78. The company has a market capitalization of $45.89 billion.

About the company

Hewlett-Packard Company (NYSE:HPQ) provides technologies,  products, service, solutions and  software to various individual consumers, small & medium-sized businesses as well as large enterprises, such as customers in the health, government, and  education sectors. In 2012 March, the company had consolidated its IPG and PSG groups and turned it into a Printing & Personal Systems Group.

About Chris Bell

Chris Bell is an investing reporter for GDP Insider. Chris covers financial markets and Wall Street, concentrating on developments affecting individual investors and their portfolios. Chris is also over consumer reporter and covers a wide variety of issues ranging from housing to immigration to urban poverty. Chris graduated from the University of Scranton with a degree in Communication and Philosophy. Chris's diligent investigations earned him the honor of being named "Best Reporter" once by the Headliners Foundation of Texas and once by the Houston Press Club.

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