Hewlett-Packard Company (HP) plans to transform itself into two companies, reports said Sunday.

The tech giant will release an official announcement about the split of its personal computer and printer businesses from its technology services as early as Monday.

According to The Wall Street Journal, HP's plan to split into two different companies is the company's latest attempt to improve its sales.

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CEO Meg Whitman will lead the enterprise-focused company while serving as chairman of the board of the PC and printer business.

Patricia Russo, however, will do chairman duties for the enterprise company, which will focus on corporate hardware and services operations.

Meanwhile, Dion Weisler will be named head of the PC and printer company, The Wall Street Journal reported.

Some HP sources said the planned separation is expected to be implemented as a tax-free distribution of shares to the company's stockholders in 2015. HP declined to comment on the issue.

Reports claim this isn't the first time the pioneer in business computers has considered a break-up.

In 2011, HP actually explored the possibility of spinning off its technology services during the tenure of former CEO Leo Apotheker, some sources confirmed.

TagsHP, Hewlett Packard, personal-computer business, printer business