if you don't remember the Palm Foleo, as this is a product that never was. The Foleo was meant to be a Smartphone "companion", much like the Redfly by Celio for Windows Mobile, although the Foleo was of course going to work with Palm OS as well as other Smartphone operating systems.
However, not the rumour mill has started once again with suggestions that Palm might be looking at resurrecting the Foleo, although this time as a fully functional netbook. The idea is that the new Foleo will be running Web OS, the same operating system that Palm will be using on the Pre. Considering the amount of interest in using Google's Android OS for netbooks, this isn't nearly as crazy as it sounds.
The rumoured hardware specifications for the new Foleo are also interesting, as the devices is said to be using an ARM processor and that it will feature a Qualcomm Gobi 3G chipset which should allow for global 3G and HSDPA data access. It's also said to offer 8-10h battery life which should be about right considering the choice of hardware. Also interesting to note is that the new Foleo is said to be designed by three ex-Apple iPod designers, so we might be looking at a very interesting product here that won't look anything like the previous Foleo hardware.
It will be interesting to see what Palm has up its sleeve, but it seems like netbooks are slowly starting to move onto ARM based hardware, something we're sure that Intel isn't all too happy about.