Palm Up For Sale According to Bloomberg

Here’s some really interesting news: Palm is up for sale according to a report from Bloomberg. Makers of the so called “iPhone killer”, Palm has been always troubled financially, but their Palm Pre launch saved them from drowning, albeit temporarily. With 11 straight quarterly losses, it’s not looking pretty for Palm. With Bell selling the Pre exclusively in Canada, could this be the end of the Palm Pre as we know it?

According to Bloomberg:

The company is working with Goldman Sachs Group Inc. and Frank Quattrone’s Qatalyst Partners to find a buyer, said the people, who declined to be identified because a sale hasn’t been announced. Taiwan’s HTC Corp. and China’s Lenovo Group Ltd. have looked at the company and may make offers, said the people.

If Palm is picked up by HTC, we could start seeing some interesting HTC hardware sporting WebOS. HTC has done well with their Google Nexus One, the largest competitor to the iPhone. Such a take over would result in better handsets to put pressure on Apple to stay in check and balance out the industry. Other rumoured buyers include Dell, however they declined to put any offers on the table.

With rumours of an iChat-enabled iPhone coming this summer, it will remain challenging to keep up with Apple’s blitz on the smartphone industry.

What do you think will happen to the future of Palm?

[Bloomberg]

Founder and Editor-in-Chief of iPhoneinCanada.ca. Follow me on Twitter, and @iPhoneinCanada, and on Google+.

  • Gtasscarlo

    Wait how does the iPhone killer almost go bankrupt
    serves them right

  • Hehe. There are still a tonne of loyal Palm users from the Pilot/Treo
    days. Seems that their marketing costs outweighed their actual sales
    for the Pre.

    Gary

  • nosnoop

    serves them right?

    Seriously, for all of iPhone users' benefit, you should wish for stronger competition.
    Do you think Apple would give us multitasking without the threat of Android? And Palm may have played a role in influencing the early stage of OS4 development last year (with its heavy emphasis on multitasking ability of webOS). Of course, as it turned out, it is a bit “too little too late” for Palm.

    But stronger competition is always good for us, the users.

  • nosnoop

    serves them right?

    Seriously, for all of iPhone users' benefit, you should wish for stronger competition.
    Do you think Apple would give us multitasking without the threat of Android? And Palm may have played a role in influencing the early stage of OS4 development last year (with its heavy emphasis on multitasking ability of webOS). Of course, as it turned out, it is a bit “too little too late” for Palm.

    But stronger competition is always good for us, the users.