Palm is Up for Grabs

A report from Bloomberg shows that handheld device maker Palm is putting itself up for sale.220px-palm-Treo700p

Sources of the report revealed that Goldman Sachs Group Inc. and Frank Quattrone’s Qatalyst Partners are working with the company to look for potential buyers.

Two companies have already taken a look and they are HTC Corp. from Taiwan and Lenovo Group Ltd. from China. The other possible buyers are Nokia, Microsoft, Motorola and even Nintendo. Dell initially wanted to make an offer but decided against it eventually.

Palm, founded in 1992, is a pioneer of the personal digital assistant (PDA) market, through its Palm Pilot series. However, it is currently taking a beating in terms of sales as it is competing with Apple and Google for mobile operating system. It has patents from mobile hardware to software and power-saving technologies.

The current market value of Palm stands at 870.8 million dollars. It currently ranks sixth for the smartphone market in North America.