HP dumps mobile devices, puts PC business up for sale

Hewlett-Packard Co. might be spinning off its PC division and is close to buying the U.K. software firm Autonomy, according to Reuters.

Huffington Post also also reported that HP is dumping its two-month-old tablet and will stop making mobile phones.

The spin off of the PC business has long-been rumored because of its slow growth and low margins.

The acquisition of Autonomy for $10 billion would bring in a more profitable line of business. The company makes software used to search and organize unstructured data such as e-mails, according to Reuters.

The end of HP's mobile device business is an acknowledgment that Apple and Google's Android operating system have too far of a lead in the mobile device market for HP to catch up, Bianca Bosker wrote at Huffington Post.

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