HTC And Lenovo Might Offer to Buy Plummeting Palm

This news is not confirmed yet but has been hinted at, at Bloomberg. This post at Bloomberg titled “Palm Said to Tap Goldman, Quattrone to Find Buyers (Update1)” ┬ásays that palm is making itself available for sale. The post is based on news from three inside people familiar with the situation and spilling the beans for Bloomberg.


According to those sources, the bidding will commence this week. Earlier, potential buyers included HTC, Lenovo and Dell. While HTC and Lenovo have announced their wish to enter the bid, Dell has decided to back out.

Whosoever buys Palm, will save its plummeting stocks and get the company back on track. Though, this will be a big challenge for the buyer. Frank He, a technology analyst  commented on this rumor saying,

Palm still has quite a good brand in the U.S. market, and some strong technology, so you can do something with it. The shares have gone down a lot and the company may become attractive to anyone looking for a turnaround play.

This year has been bad for Palm. It recorded a 60% surge from Jan 2010 and a sharp 32% just last week. It is quite like the Sun Microsystems of the mobile world now. The more this deal drags on, the more loss it will make for Palm as well as the buyer. We will come back with more news on this once the rumor gains some credibility.

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Chinmoy Kanjilal

Chinmoy Kanjilal is a FOSS enthusiast and evangelist. He is passionate about Android. Security exploits turn him on and he loves to tinker with computer networks. You can connect with him on Twitter @ckandroid.