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  1.    #1  
    HONG KONG, April 23 (Reuters) - HTC (2498.TW), the world's No.5 smartphone brand, will not bid for Palm (PALM.O) after reviewing the company's numbers, a source said on Friday, leaving PC brand Lenovo (0992.HK) as the last major Asian suitor.

    "There just weren't enough synergies to take the deal forward," said the source with direct knowledge of the matter, who declined to be named because the deal had not yet been made public.

    This leaves Lenovo, the world's No.4 PC brand, as the only major Asian bidder expected to show interest in Palm, after a Huawei [HWT.UL] source said talks had stalled, and ZTE's (0763.HK) chairman told Reuters it had not been approached for a deal. [ID:nTOE63E09I]

    HTC Chief Financial Officer Cheng Hui-ming and Lenovo spokeswoman Angela Lee both declined comment. Palm officials were not immediately available for comment outside normal U.S. working hours.

    "It's a good thing that HTC is dropping it because Palm has been losing money for a while now, and when you look at the two companies, they share such a similar profile," said Lu Chialin, an analyst at Macquarie Securities.

    "A more suitable candidate will be mainland China companies, because they've got a lot more free cash and don't have the brand presence in the U.S. yet."

    LENOVO THE LAST CANDIDATE?

    Lenovo had more than $2.4 billion in net cash reserves at the end of 2009, according to its website, and has previously said it remains open to merger opportunities if meets the correct suitor.

    A Palm sale could potentially fetch $1.3 billion, given its current $1 billion market capitalisation and the 30 percent premium recently paid in tech deals.

    Shares of Lenovo were up 4 percent at midday with nearly 75 million shares traded, more than double its daily average over the past 30 days. The benchmark Hang Seng Index's .HSI was down 0.8 percent.

    After selling its cell phone unit to focus on its core PC business, Lenovo bought back the unit as part of its aim to become the Chinese market leader in mobile communications, as the sector starts to converge with PCs.

    Since then, Lenovo has launched a smartphone in China, but still has no presence in the U.S. market, which remains the world's largest smartphone market by number of users, according to research firm IDC.

    Market research firm Gartner expects growth in the smartphone sector to outpace PCs in 2010, leading to a flurry of new entrants into the sector once dominated by cellphone makers such as Nokia (NOK1V.HE) and Blackberry maker Research in Motion (RIM.TO). (Editing by Chris Lewis and Jonathan Hopfner)

    I didn't really see HTC buying palm in the first place. They've got way too much stuff going on for them right now so why change it up. Looks like it's either palm gets with lenovo or they try and fight through on their own.
  2. #2  
    Even if I'm slightly sad that no one wants palm, i can kinda see why.
  3. #3  
    Palm has certainly become the "red-headed step child" of the business world
  4. #4  
    What about just licensing the OS? Although they have their hands full with WM and Android.
    HP has officially ruined it's own platform and kicked webOS loyalists and early TouchPad adopters to the curb. You think after you drop it like a hot potato and mention it made no money and is costing you money, anyone else wants it??? Way to go HP!!

    And some people are fools to keep believing their hype. HP has shown they will throw webOS under the bus and people are still having faith in them??? News flash: if it's own company won't stand behind it, it's finished!
  5. #5  
    I think it will reach a point where palm would have no other option but to do licensing
  6. #6  
    Quote Originally Posted by The Phone Diva View Post
    What about just licensing the OS? Although they have their hands full with WM and Android.
    Licensing WebOS is going to be difficult when HTC and others have a free OS [Android] available, an OS that is swallowing up market share at an astronomical rate.

    Not to mention that Android gives manufacturers complete control over customization; look at what HTC is doing with it's Sense UI and what Dell is delivering with their new device(s).
  7. #7  
    Plus HTC are big on skinning OS's to within an inch of being recognizable hate to see what they'd do to webos
  8. #8  
    One completely kick-****, sleek phone design and a fast processor and Palm will get a second wind. Ruby really needs to team up with an incredibly strong, hip, device manufacturer and he'd suddenly be all over the headlines as the savior of Palm. I'm rooting for him and Palm!
  9. #9  
    Quote Originally Posted by HelloNNNewman View Post
    One completely kick-****, sleek phone design and a fast processor and Palm will get a second wind. Ruby really needs to team up with an incredibly strong, hip, device manufacturer and he'd suddenly be all over the headlines as the savior of Palm. I'm rooting for him and Palm!
    The Pre _was_ supposed to be that second wind. And Palm was in a much less competitive market when they announced it.
  10. #10  
    I am sort of glad for this.
  11. #11  
    Quote Originally Posted by prebulls View Post
    I am sort of glad for this.
    Why?!
  12. cgk
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    #12  
    Quote Originally Posted by 063_xobx View Post
    Plus HTC are big on skinning OS's to within an inch of being recognizable hate to see what they'd do to webos
    Well with Windows 6.x you can see why, however with windows 7, they have to sell it "as is".

    More broadly, I don't see Lenovo buying palm for the tiny marketshare it brings them - I expect them to get aboard the windows 7 phone and android bus with everyone else.
  13. #13  
    Welp, that's it folks, farewell Palm.
  14. #14  
    Lame. Palm stock is going to tank tomorrow...
  15. #15  
    Quote Originally Posted by giograves View Post
    Lame. Palm stock is going to tank tomorrow...
    Glad I don't own any but for those that do

    http://aroundthesphere.files.wordpre...lson_haha2.jpg
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    #16  
    Quote Originally Posted by mdmogren View Post
    Welp, that's it folks, farewell Palm.
    No yet, just no webOS on HTC's hardware.

    It seems to me that for a company everyone says is done, palm is very busy expanding and continue to develop for their products. They just need to hit a home run on their next device or just try and survive, maybe as a niche company? I have no doubt palm will still be around for awhile.
  17. cgk
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    #17  
    Quote Originally Posted by bdog421 View Post
    No yet, just no webOS on HTC's hardware.

    It seems to me that for a company everyone says is done, palm is very busy expanding and continue to develop for their products. They just need to hit a home run on their next device or just try and survive, maybe as a niche company? I have no doubt palm will still be around for awhile.
    Can't see it. The R&D costs alone to keep up with the big boys are unsustainable with their market-share. The company simply does not generate enough revenue.
  18. #18  
    HTC is gunna regret this in a few years when all the other os'es are figting for scraps and webos dominates the market with the c40 and c40+!!!!
  19. #19  
    So that's why ruby has been talking it up lately and talking about making it on their own.... He already knew the htc deal was dead.
  20. bdog421's Avatar
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    #20  
    Quote Originally Posted by CGK View Post
    Can't see it. The R&D costs alone to keep up with the big boys are unsustainable with their market-share. The company simply does not generate enough revenue.
    Palm already has an os that "keeps up with the big boys". They need the hardware to go with it. Lets just face the facts that out selling the top brands is not likely to ever happen, still it doesn't mean that palm can't survive. They can!
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