NEW YORK (AP) — Hewlett-Packard is splitting itself into two companies, one focused on its personal computer and printing business and another on technology services, such as data storage, servers and software, as it aims to drive profits higher.
Hewlett-Packard, like other PC makers, has been facing changing consumer tastes ”“ moving away from desktops and laptops and toward smartphones and tablets. It has also faced revenue declines 11 of the past 12 quarters. The company laid off tens of thousands of people in recent years as sales crumbled.
The planned breakup follows other big companies that have spun off business units in order to drive growth. EBay Inc. this month said it would spin off its fastest growing segment, payment service PayPal, into a separate and publicly traded company.
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