HP enters smartphone market, buys Palm for £787m

01/05/2010

Computer manufacturer Hewlett-Packard has become a new player in the smartphone market, buying phone maker Palm for $1.2 billion (£787 million). Palm has been struggling to compete with rivals Apple and RIM, with its most recent model, the Pre, failing to make sales targets.HP will use Palm's webOS operating system to help it to gain a foothold in the competitive smartphone and mobile devices markets; expanding the OS across other devices, possibly including a tablet or slate type device.

Commenting on the acquisition, Todd Bradley, executive vice president of HP's Personal Systems Group said "Palm possesses significant IP assets and has a highly skilled team. The smartphone market is large, profitable and rapidly growing, and companies that can provide an integrated device and experience command a higher share. Advances in mobility are offering significant opportunities, and HP intends to be a leader in this market.”

1/5/2010

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