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HTC and Lenovo to bid for Palm?

Palm is looking for buyer, according to report

Palm is thought to have put itself up for sale.

According to Bloomberg, the smartphone manufacturer is working with Goldman Sachs and Qatalyst Partners in a bid to locate a buyer.

The news service also said that HTC, the mobile phone manufacturer behind Google's Nexus One, and Lenovo is interested but has yet to make an offer.

Despite launching the Pre last year, Plam is still thought to have put itself up for sale


Despite launching the Palm Pre, which runs Palm's WebOS software, last year, the company still failed to achieve the financial results it expected.

In February this year, Palm predicted that revenues from its smartphones would fall far shorter than initially expected.

"Palm still has quite a good brand in the US market, and some strong technology, so you can do something with it," Frank He, a technology analyst at BOC International Holdings in Hong Kong, told Bloomberg.

"The shares have gone down a lot and the company may become attractive to anyone looking for a turnaround play."

Palm has not yet commented on the reports.

See also: The 10 best Palm Pre and Palm Pixi apps


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