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HP Strategy Meeting: Live Blog

Stocks in this article: HPQ IBM

NEW YORK ( TheStreet) -- HP (HPQ) CEO Leo Apotheker rolled out his long-term strategy for the tech giant on Monday during a meeting with analysts and press at San Francisco's Yerba Buena Center for the Arts.

Despite speculation about a possible reorganization, the new HP chief did not discuss any restructuring efforts during his keynote, instead focusing on cloud computing and mobile connectivity.

The former SAP (SAP) chief explained that HP will be offering a portfolio of cloud services. "The opportunities in the cloud are extraordinary, and we are positioned to lead with our portfolio," he said, explaining that HP will provide both cloud infrastructure and cloud "platforms" for developers.

Apotheker also said that that HP will offer an open cloud "marketplace" combining both a consumer app store and a catalog for enterprise applications and services.

On the connectivity side, the HP CEO said that the tech giant could potentially sell 100 million devices a year running the WebOS operating system. HP will soon launch its TouchPad tablet and new smartphones running WebOS, although Apotheker explained that the operating system will eventually encompass PCs and even printers.

"WebOs is an unbelieveably attractive & stunning technology," he said, during a press conference that followed the keynote.

A beta version of WebOS running on a PC will be available by the end of the year, he said. "You will see us start putting that technology on Windows PCs from that point onwards," added the CEO.

HP CFO Cathie Lesjak also shared the spotlight with Apotheker, explaining that HP's board has authorized a 50% increase in the firm's quarterly dividend, which is rising to 12 cents a share.

HP shares were up slightly, gaining 31 cents, or 0.75%, to reach $41.80 after market close.

-- Written by James Rogers in New York.

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