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HP to Hold WebOS Meeting: Reports

PALO ALTO, Calif. ( TheStreet) -- HP (HPQ - Get Report) may be edging closer to an announcement on the future of WebOS, according to media reports that say the company plans hold an "all-hands" meeting to discuss the software late Tuesday.

The Verge Web site, citing multiple sources, says that HP's CEO Meg Whitman will host the meeting, which will take place around 4:30 p.m. PT. Precentral notes that former Palm CEO Jon Rubinstein, now senior vice president at HP, is expected to also be in attendance.

HP CEO Meg Whitman will reportedly hold a meeting to discuss WebOS this evening.

The tech giant acquired WebOS as part of its $1.2 billion acquisition of Palm last year, although rumors are now swirling that HP may sell off the acclaimed mobile OS.

HP pulled the plug on its WebOS-based hardware during the summer, fueling speculation about the future of the actual software.

Reuters reported on Tuesday that HP is looking to sell WebOS, a move which could prove controversial at a time when Whitman is under pressure to crank up the Dow component's innovation engine.

Famed for its strength in multitasking and video playback, experts note that WebOS could also be used to drive printer connections to a range of devices, such as digital cameras.

HP has described the software as "strategically important" to the company, hinting that it may license the technology to other firms.

Shares of HP closed down 4 cents, or 0.14%, at $27.84 on Tuesday.

-- Written by James Rogers in New York.

>To follow the writer on Twitter, go to http://twitter.com/jamesjrogers.

>To submit a news tip, send an email to: tips@thestreet.com.

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