The technology giant Hewlett-Packard Co is officially splitting into two smaller companies, one to take care of computers and printers and other to take care of corporate hardware and services. On November 1 Hewlett-Packard Co will be split into Hewlett-Packard Enterprise Co and HP Inc.
On November 2 Hewlett-Packard Enterprise (corporate hardware and service business) will start trading on the New York Stock Exchange using the ticker symbol “HPE”.
HP had announced the split in October 2014 while trying to adjust to the post-PC computing era when technology is quickly being taken over by mobile devices such as smartphones and tablets.
According to a public statement by HP CEO Meg Whitman,
Today, I’m more convinced than ever that this separation will create two compelling companies well positioned to win in the marketplace and to drive value for our stockholders. Since we announced our plan to separate in October, we’ve made significant progress and remain on track to complete the separation by the end of the fiscal year 2015.