HP is in the process of deciding whether to ditch its WebOS business, which the company has previously earmarked for closure.
Former HP head Léo Apotheker had outlined plans in August to dramatically restructure the company through HP's acquisition of software analytics business Autonomy and the winding down of its PC and WebOS divisions.
But Apotheker was recently ousted by the company's shareholders and replaced by former Ebay chief Meg Whitman, who promptly reversed his controversial plan to junk HP's PC operation. However, it remains unclear whether the company will stick by its original decision to shut down its WebOS business, as Whitman has not yet commented on plans for the division.
Sources told Reuters news service that HP is evaluating a potential sale of its WebOS software platform in a deal that could fetch hundreds of millions of dollars. However, they said a sale would likely be less than the $1.2bn the company paid for Palm in 2010.
According to the sources, HP is being advised by Bank of America Merrill Lynch as it considers whether to sell or keep the WebOS unit. Both HP and Merrill Lynch declined to comment, said Reuters.