HP is currently developing a new smartphone in a bid to re-entry into the smartphone market in the future, after faltering with the Pre 3 smartphone and its webOS operating system.

HP CEO Meg Whitman was quoted by Fox Business as saying that the company’s view is that they have to ultimately offer a smartphone because in many countries of the world, that is their first computing device.

"There will be countries around the world where people may never own a tablet or a PC or a desktop, they will do everything on a smartphone, we are a computing company we have to take advantage of that form-factor," Whitman said.

Recently, HP has launched a mobile business division to lead its development of a Windows 8-powered tablet, while earlier it was reported that the firm has been developing a touchscreen phone as a flagship platform for its webOS operating system.

"But we did take a detour into smartphones, and we’ve got to get it right this time," Whitman said.

"So we’re working to make sure that, when we do this, it will be the right thing for HP and we will be successful."

It is anticipated that HP is currently testing its new smartphone through GLBenchmark software and is powered by Android version 4.0, aka Ice Cream Sandwich.

According to reports, the new phone is expected to feature Qualcomm Snapdragon S4 processor along with a1366 x 720 pixel screen, with anticipated launch by the February 2013.