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+ - HP to buy Palm for $1.2billion

Submitted by necro81
necro81 (917438) writes "Palm, Inc., which has struggled in recent months after making a splash with its Pre smartphone, will be bought by HP, the world's largest computer maker. The deal has been approved by both companies' boards, and should be wrapped up this summer. HP will get Palm for about $5.70/share (about 20% above today's closing price), or about $1.2 billion. That's a pretty good deal, considering that in the months following the launch of the Pre on Sprint's network, Palm's share price topped $16. But marketing blunders hindered the Pre's more widespread adoption on other carriers, and the company's very existence has recently seemed in doubt."

Comment: Re:Heh... (Score 1) 264

by kovari (#28231479) Attached to: Apple To Face Challenge At WWDC

So Apple, as a newcomer to the industry, is now making others in the same space play catch up to them. Real competition is a good thing. Definitely Palm, MS, Nokia and RIM had more than enough time and expertise to make a iPhone like device before Apple did, yet they didn't. So now they get to play catch up. I hope they do create real iPhone killers, because it then puts Apple on the spot to improve.

Actually, they are only utilising the expansion of a niche (touchscreen smartphones) which (the expansion) Apple caused. Apple did not create the market, but was first to create a product to be good enough. At the same time other players are working on other niches, some more, some less profitable.

It's a bit like when Beatles had it's first success (no I'm not that old), other record companies started to sign similar bands. While keeping the still profitable parts of their other catalogue also.

"Those who will be able to conquer software will be able to conquer the world." -- Tadahiro Sekimoto, president, NEC Corp.

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