Palm hires Morgan Stanley to explore sale

“Palm Inc. has reportedly hired an investment banker to help the wireless-device maker explore a potential sale,” Jeffry Bartash reports for MarketWatch.

Bartash reports, “The Wall Street Journal reported Monday that Palm is working with Morgan Stanley to evaluate its options, citing ‘people familiar with the matter.’ Possibilities could include a sale to Finnish mobile giant Nokia Corp. or a private-equity firm.”

“On Monday… Palm stock fell more than 6% in recent trades, partly because of a brokerage downgrade. J.P. Morgan cut its rating to underweight from neutral, saying Palm’s product line has grown stale while the competition is intensifying,” Bartash reports.

Bartash reports, “Nokia, Motorola and BlackBerry maker Research In Motion Ltd. have all unleashed sharp-looking new smartphones that have blunted Palm’s historic edge in device design. And soon, technology bellwether Apple Inc. will enter the smartphone market with the much heralded iPhone, which is based on snazzy touchscreen design.”

Full article here.

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21 Comments

  1. But for those of us with no options… being that Cigular is a disaster provider in Northern California… Palm Treo and Sprint is my only option. Way bummer.

    I would love the iPhone but…heck…what’s the point with Cingular when a bug flies in front of you … you drop a call.

  2. David,

    I’m in Northern California on Cingular and love it. No problems at all and a signal even in the most off-the-beaten-path places. I have noticed that certain phones SUCK with signal though… get a new phone.

  3. Palm sucks, however to give credit where credit is due, I have had a very pleasant experinece with one of their techs who was very helpful in troubleshooting a problem I had with a Tungsten C.

  4. Any HW company that adopts Windows SW ends up going nearly broke, battling 100 other companies using the exact same schlocky stuff…

    The problem with HW vendors is they do not see themselves as a total integrator. Well, PALM did, but then the temptation is to be lazy, and just “solve” problems by adopting a vein of product that would run Redmond on it.

    Yes, they sell to some degree – but so do 100 other HW vendors products with Redmond on them.

    Now PALM is competing soley on hardware and what people think looks cool or not, etc…

    Sony, PALM, Dell, HP, all in the same boat, rowing up stream because they refuse to devote millions in devloping superior software solutions.

    Just add up the dollars in license fees they have dolled out to Redmond, and it should be clear that they should all have done their own thing on the SW side of the coin, or collectively put together reference platforms to all work off of. But no, they are all to locked up in their own kingdoms.

    They all have their little power rings, but one ring rules them all… Bill’s ring.

  5. I said Apple would pummel RIM next but I forgot one important thing: The iPhone doesn’t do “push” mail. Therefore, the iPhone is doooooomed!

    And since the iPhone is based on Mac OS X, there is absolutely no technical way it will ever be able to do “push” mail. In fact, now that I think about it, Apple is doooooomed!

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  6. AshNazg

    Where in Northern Calif?

    I paid to get out of my Cingular contract. No matter what phone they gave me it was terrible. I do know that when I was in both Chicago, NY and LA that Cingular was great. Perfect reception. Here in Sacramento, just terrible.

    My mother and friends are on Cingular and all…and My mean all have the same reception problems. Each of them are bursting to be set free from Cingular.

    Perhaps you are blessed with the perfect phone and near a tower.

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