HP decides on Palm and webOS future this week

I’m not quite sure what the game plan HP had in mind when they purchased Palm some time ago, but it seems as though that is one plan that had fallen apart at the seams. The HP TouchPad did receive some buzz when it was introduced, but then again the tablet’s sales were stopped barely a month into its release. Signs point towards HP deciding on the future of Palm and its operating system, webOS, later this week after rumors of the company completing the initial bidding process for its webOS unit. An all-hands meeting is touted to be held tomorrow in order to reveal the future plans on whether HP will be selling or spinning off the group.

That would basically mean $1.2 billion or so down the drain after acquiring Palm, so it remains to be seen who else is going to pick up Palm and webOS. Perhaps the next Silicon Valley visionary is able to see what webOS can be in its entirety, or would Palm just be killed off, ending its relatively short life as a company?