HP blew $3.3 billion killing Palm and webOS

HP released its Q4 2011 financial results this afternoon, and while the company did better than Wall Street expected it to in total, it still managed to lose billions of dollars on the webOS platform. Last year, HP bought Palm for $1.2 billion, and today the company admitted how much more money it sunk into webOS this year, only to leave it high and dry halfway through.
According to the company figures, HP spent $3.3 billion on the remainder of Palm and webOS this year, even though it decided that it would discontinue webOS smartphones and tablets this summer. The company did bring in $200 million from the firesale of the TouchPad, but all of those sales were at a loss, so that can't really ... »read more

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