* Strategic review to be down in 8-12 weeks
* PC chief says plans to stay with HP
SAN FRANCISCO Aug 22 Hewlett-Packard Co
(HPQ.N) will complete a strategic review of its personal
computers unit in the next 8 to 12 weeks, the company's PC
chief, Todd Bradley, said on Monday.
Bradley, the former Palm CEO who has led HP's PC division
for the past six years, also plans to stay with the company.
The world's largest technology company by revenue shocked
investors last week with a series of announcements, including
that it might spin off the PC business and would kill its new
tablet as part of a major revamping away from the consumer
Some of the alternatives HP is exploring for its PC unit
include hiving off the business into a separate company through
a spin-off or sale. HP had said any move could take 12 to 18
"Work will get completed probably over the next 8-12 weeks
and we will sit down with the board and take them through the
results," Bradley told CNBC.
He added that looking at options for HP's PC business was a
"very, very valid exercise" for the board and company to do.
HP also launched on Monday a new desktop PC aimed at
corporate and public sector customers.
The California company has been struggling in the PC market
-- a low-margin but high revenue business -- as niftier gadgets
such as Apple Inc's (AAPL.O) iPad have lured consumers away.
HP's WebOS-based TouchPad was killed after sales failed to
take off. The company is now exploring options for its WebOS
software, which it acquired through the acquisition of Palm.
Bradley, who described WebOS as a "strategically important
asset," said the company has received interest from "a number
of large parties" interested in licensing the software since
The executive, the internal front-runner for the HP CEO job
before it went to Leo Apotheker last year, also knocked down
widespread speculation in Silicon Valley he was looking to
"There are plenty of ridiculous rumors on the Internettoday, all unfounded," he said, adding he plans to work through
the PC unit review process.
"At the time of whatever action is determined with the PC
business, then if it's a spin-out it will be my intent to lead
that," he said. "If it stays within HP, I plan to continue to
HP shares, which fell 20 percent on Friday, closed up 3.6
percent at $24.45 on the New York Stock Exchange in a market
that was broadly up.
(Reporting by Poornima Gupta; editing by Gerald E. McCormick
and Andre Grenon)