Nokia Interested in Palm!
According to sources, Nokia is in the process of bidding to take over Palm. The stocks of Palm gained more than 7% due to the rumoured fact that Nokia is planning to take ownership over it.
Palm rose from 1.12 USD to 17.07 US$ in the New York NASDAQ Market.
Experts say that the reason for Nokia’s thought might be due to the fact that it has fallen behind in comparison with competitors. So buying Palm would help Nokia to catch up especially software-wise.
Palm is the company behind the Palm Pre which is one of the most anticipated touchscreen smart-phones of the year. However it has been going through a lot of problems and it might eventually fall under Nokia if the deal is right.
The deal has not been confirmed either by Nokia or Palm. The rumour can very well be real looking at the amount of capital and resources available with Nokia. We’ll just have to wait and see what happens.