HP details wasted webOS money: $1.66 billion in expenses after the acquisition
HP acquired Palm over a year ago for $1.2 billion but its expenses didn’t end on that - the company has released financial results which show that it has spent even more, a whopping $1.66 billion on winding down the webOS division.
The costly process includes $885 million from the “impairment of goodwill and purchased intangible assets,” and an additional $775 million from one-time charges around the wind-down. Those two add up to make the staggering $1.66 billion number, not a very heartwarming figure for HP investors.
It’s saddening to see the huge pile of cash that has been invested in what’s now abandonware, or on the way to become abandonware. WebOS is a glaring example but it’s not the only one - MeeGo was officially proclaimed dead after billions of expenses and Symbian while supported until 2016 is headed that way too. Windows Mobile could also be put in that category.
Now, if only HP knew what it’d do with webOS, but something tells it’d be hard to convince those investors that pouring more money into the platform is a good idea...
source: HP via AllThingsD