As it was shockingly revealed, HP announced that they would be discontinuing their webOS tablets and smartphones. It seems that the reason behind this was that their platform simply could not compete with iOS and Android, thus they had to throw in the towel and minimize their losses. It also appears that the hardware that HP had given its webOS team stopped them from being creative and innovative due to the limitations of its hardware, which was reportedly slow.
Ubergizmo
See also:
newtech, webOS is apparently faster on the iPad than HP's TouchPad
