According to HP, the TouchPad, which runs WebOS - the operating system that was acquired when HP purchased Palm for $1.2bn last year - had "not met internal milestones and financial targets" and lead the tech giant to make its decision to dump the device.
The HP Touchpad has a 9.7in display and is powered by a dual-core 1.2GHz Qualcomm Snapdragon processor. Available in both 16GB and 32GB capacities, the HP TouchPad was originally priced at £349 and £429 respectively. However, just days after HP announcement, retailers including Dixons slashed the price of the HP TouchPad to just £89 - a saving of £260, while the 32GB TouchPad was being offered with an even greater saving of £315, down to £115. Consumers clamoured to get their hands on HP's tablet PC at these knocked down prices and stocks soon dwindled
"Since we announced the price drop, the number of inquiries about the product and the speed at which it disappeared from inventory has been stunning. I think it's safe to say we were pleasantly surprised by the response," said HP's Mark Budgell in a blog.
"We have decided to produce one last run of TouchPads to meet unfulfilled demand."
Budgell said HP would be manufacturing a "limited supply" of TouchPads up until October 31, the end of its fourth quarter,
"We don't know exactly when these units will be available or how many we'll get, and we can't promise we'll have enough for everyone. We do know that it will be at least a few weeks before you can purchase," he added.