HP to split into two companies

Technology giant Hewlett-Packard, known as HP, plans to split itself into two companies, reports say.


The US firm will separate its better-performing computer and printer business from its corporate hardware and services operations, according to the BBC.


HP is in the midst of a restructuring plan and has announced tens of thousands of job cuts in recent years.


In August, it reported a sharp fall in profit despite a rise in revenue, helped by improved PC sales.


Chief executive Meg Whitman, who has the job of reviving the fortunes of the 75-year-old firm, acknowledged at the time that demand for PCs was "coming back", but that it was still "a declining business".


The Wall Street Journal first reported on the split plans on Sunday, saying HP had been looking to focus on its faster-growing businesses.


It says the move could be announced as early as Monday, and one of its sources said Ms Whitman would head the new spin-off, enterprise company.


She will also reportedly be chairman of HP's printing and PC business, which last quarter accounted for about half its revenue and profit.


HP has also been involved in a continuing legal dispute with Autonomy, a British company it bought for $11.1bn (£7bn) in 2011.


Read more on the BBC website.