HP plans to separate PC business from corporate operations: Report

The world's second-largest PC vendor, Hewlett-Packard is reportedly planning to separate its computer and printer business from its corporate hardware and services operations.

The PC giant is expected to announce the split today.

HP's printing and personal systems group, which includes PCs, tablets, printers and other accessories, pulled in revenue of 55.9 billion dollars during the company's 2013 fiscal year, almost half of its total revenue, CNET reported.

The speculated split could be an attempt to help HP move quickly to regain its position atop the global PC market. HP fell to the No. 2 spot behind Chinese computer maker Lenovo last year.

CEO Meg Whitman said that they are gradually shaping HP into a more nimble, lower-cost, more customer- and partner-centric company that can successfully compete across a rapidly changing IT landscape.

However, this isn't the first time HP has attempted to split its PC business. In 2011, former boss Leo Apotheker tried to spin off the company's PC-making division.

Investors rejected the move, and Apotheker was forced out. Whitman reversed the decision when she took over as CEO and began a 'multiyear journey' to revive HP, the report added.