WebOS is basically a Linux kernel based operating system which was formerly an operating system for smart TVs and also a mobile operating system. Though it was developed by Palm, HP acquired it and made the platform open source and henceforth it came to be known as Open WebOS. The features of the webOS were so innovative that Apple, Microsoft, Chrome and others still use it. But however, HP is supposed to withdraw its support thereby shutting it down in January. Technically, a few years ago HP had already killed the operating system. But however, LG helped it to rise by using it for its smart TV by buying it from HP.
But now HP is doing it again this time which may be for its good. The date for end of all the support will be on January 15, 2015. Thus consumers using such devices will no longer be able to receive any updates and it will not be supported by HP any more.
Again LG might continue to use webOS on its smart TVs which will run a version of the operating system. Moreover, LG is supposed to breathe life into the operating system with a webOS powered smartwatch.
After HP, LG will carry on the legacy of webOS and thus HP is not expected to provide any further support to the operating system.