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Thursday, 08 April 2010 11:14

Palm's share boost as sales talk gains traction

Written by Nick Farell


Image

More doom and gloom


Palm has
seen its share price increase by 20 per cent even as the company's woes over its inability to peddle its smart phone continue.

However the increase in share price is not a good sign for the company. It is an indication that many shareholders believe that the outfit is going to be flogged off any day now. High on the list of potential buyers is the Chinese maker of old IBM gear Lenovo.

This particular rumour was started by the Dow Jones Newswires, Lenovo have not said a dickie bird, but Lenovo CEO Yang Yuanqing told a German newspaper that the company was considering making more acquisitions to build out its mobile Internet business.

Analysts believe that Palm's only hope to salvage some value may be through a buyout,however whoever buys it might have their work cut out given the company's current struggles to sell its handsets. However for a company were trying to break into the US wireless business, Palm offers the attractive combination of a new mobile operating platform and relationships with carriers.
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