HP has had a difficult relationship with WebOS, the mobile OS it obtained after acquiring Palm. After the failure of the TouchPad, HP decided to open up WebOS, and the sourcecode for the newly open source project was released last year. While Open WebOS has not graced any products since, LG has decided they want to buy the project and IP from HP.
LG has decided that WebOS will be a great fit for their upcoming lines of Smart TVs, and have not announced any plans for a new mobile product featuring it just yet. The Open WebOS project will still be kept open, but kept in ‘LG Stewardship’. It’s also not a full sale from HP – HP will continue to support Palm users, and they retain ownership of Palm’s cloud computing assets.