HP to keep PC business

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Palo Alto, Calif.—HP announced that it will keep its Personal Systems Group (PSG), which makes PCs, following a strategic review. In August, HP said its board had approved a plan to explore “strategic alternatives” for its PSG unit. Former President-CEO Leo Apotheker, who left HP in September, said at the time that HP wanted to pursue higher-value, higher-margin businesses such as cloud-based computing and services. In a statement Thursday, HP's new president-CEO Meg Whitman said, “HP objectively evaluated the strategic, financial and operational impact of spinning off PSG. It's clear after our analysis that keeping PSG within HP is right for customers and partners, right for shareholders and right for employees.” HP is the leading PC maker in the world, with revenue from this business topping $40 billion last year.
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