HP reportedly plans to split into two separate companies

Most of us probably know HP as a company that makes a variety of consumer electronic goods, such as desktop computers, laptops, tablets, printers, and at one point in time they even tried their hand at webOS smartphones. However according to a report from The Wall Street Journal, it seems that HP could be getting ready to split into two companies.

Hewlett-Packard Co. plans to separate its personal-computer and printer businesses from its corporate hardware and services operations, the latest attempt by the technology company to improve its fortunes by breaking itself in two. The company intends to announce the move on Monday, people familiar with the plan said. It is expected to make the split through a tax-free distribution of shares to stockholders next year, said one of the people. If the division goes off as planned, it would give rise to two publicly traded companies, each with more than $50 billion in annual revenue.