Palm announce they are up for sale

Handheld device maker Palm have announced they are looking for a new buyer, as sales of the companies latest smartphones failed to match sales of rivals, such as Blackberry and Apple.

Reports are suggesting that Dell or Hewlett Packard could be among potential bidders for the company.

“There has been a lot of speculation about firms like Nokia buying Palm but I don’t think that is an obvious fit. I’d look to the HPs or Dells of this world as both have mobile ambitions”Ovum analyst Tony Cripps

The company launched the Palm Pre last year, with the potential to be an iPhone killer, however sales figures have not been as high as expected.

In the past six months, the company’s stock has dropped 69%. It has a stock market value of $870m (£563m).

Palm’s shares rose more than 17% on the reports of a possible sale.

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  1. Nice article from The Reg which says perhaps Palm is nice fit for Nokia.Got to be better than the S60 I am using on an otherwise nice phone!

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