HP to Buy Palm
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Computer maker Hewlett-Packard announced today that it intends to purchase Palm, the struggling maker of Pre and Pixi smartphones. HP will pay $1.2 billion for Palm and gain access to Palm’s software for smartphones and computer tablets. The acquisition will help Palm immensely, as it had to put itself up for sale due to financial difficulties.
HP should be a help to Palm, as it has a lot more money, but both companies have ultimately been less than successful in the mobile phone market. Analysts have said that there will be challenges for the two companies.
Both HP and Palm have not fared well over the past three years and were overshadowed by other makers of smartphones like Apple and Research in Motion. Few people even know that HP does indeed make smartphones—though it is the number one seller of PCs in the world, it is not even in the top 20 sellers of smartphones.
Via The New York Times, image via HP.