In 2009, PALM, former market leader in notebook PCs, tried to reinvent itself with the launch of a new mobile operating system called "webOS". They wanted to compete with Apple's iPhone.
webOS was acclaimed for its easy user interface. However, Palm's hardware was not up to par. After a year, Palm sold webOS and the company to HP for 1,200 million dollars.
It took HP almost a year and a half to get a tablet with webOS. Sales were poor the first few weeks. After 49 days on the market HP announced that completely abandoned webOS along with the entire PC division.
In the process, HP has lost nearly a third of its market value.
What can we learn?
The fall in the stock market was not so much for webOS, but for the way in which HP management handled it. Anyone who has purchased a TouchPad during those 49 days will not buy another HP product in the future.
Experts speak of the mistake of launching a product without launching an ecosystem. But what was missing was surely HP having a little more faith in their own products. Customers know Windows, Mac and Android IOS. HP could not expect them to embrace webOS without the solid "why".