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