HP announced it would discontinue its current WebOS operations, including their Smartphones & TouchPad tablets running WebOS.

The announcement comes after reports of bad sales of the TouchPad tablet.

Less than 2 years after it acquired Palm for $1.2 billion HP decided to pull the plug.

"HP reported that it plans to announce that it will discontinue operations for WebOS devices, specifically the TouchPad and WebOS phones," according to a statement released by HP ahead of its earnings call. "HP will continue to explore options to optimize the value of WebOS software going forward.

There were already signs that WebOS devices were in serious sales trouble. Now HP will probably try to license or sell the platform to someone else.