Hewlett-Packard sells webOS to LG Electronics
Hewlett-Packard headquarters in Palo Alto, Calif. / Justin Sullivan/Getty Images
PALO ALTO, Calif. Hewlett-Packard (HPQ) says it is selling its webOS operating system technology to South Korea's LG Electronics for an undisclosed sum.
Hewlett-Packard and LG said on Monday that LG will use webOS to support its "smart TV" technology. Like smartphones, smart TVs are web-connected and allow for more interaction between the device and its user. LG and rival Samsung Electronics showed off smart TV models earlier this year ahead of the International Consumer Electronics Show in Las Vegas.
- HP profits top forecasts, but problems persist
- Hewlett-Packard lowers boom on Chinese suppliers
- Why HP may owe an apology to ex-CEO Leo Apotheker
HP bought the struggling smartphone maker Palm for nearly $1 billion in 2010, hoping Palm's webOS would boost its standing in the mobile market. This did not happen.
In late 2011, HP made webOS available as open-source software for anyone to use or modify for free.
Popular on MoneyWatch
- Reverse cell phone lookup service is free and simple
- When it comes to vacations, the U.S. stinks 114 Comments
- Amy's Baking Company could face legal 'nightmare'
- IMF chief named key witness in French payoff case
- Online learning gets fresh look from a heavyweight
- 4 Things Not to Buy at Costco
- Top 10 professional life coaching myths
- TGI Fridays nailed for doctoring booze