Techno-News Blog

April 30, 2010

HP to Buy Struggling Palm as Ticket into Smartphone Market

Filed under: Uncategorized — admin @ 12:15 am

by Chris Preimesberger, eWeek

HP may be looking at enterprise uses first and foremost as it integrates Palm’s IP into its product lines. Smartphone maker Palm, which never could find a way to outflank Apple and its phenomenally-selling iPhone during the last nine years, has decided on a graceful exit by accepting a $1.2 billion buyout offer from Hewlett-Packard. Palm sold only 408,000 phones last quarter; in contrast, Apple sold 8.7 million iPhones during the same time window. On the other hand, HP, the world’s second-largest IT systems provider, now re-enters a business in which it has had limited visibility and success: connected telephones. But smartphones aren’t the only thing for which HP is investing so much “cash on hand” in Palm.

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