The acquistion of Palm by HP shows that the company considers mobile computing as a priority rather than a peripheral revenue earner, one which may help it maintain its rate of growth.
Obviously, the other company that placed mobility at the core of its offering is Apple. Apple is indeed, first and foremost, a mobile company. iPod, iTunes and iphone account for most of the revenue of the company.
The iPhone ecosystem in particular went from zilch to being the biggest revenue earner for Apple in less than three years which is staggering. Now HP wants to do the same with Palm's WebOS, potentially using the goodwill generated by the Pre.
It might help that Todd Brandley, the EVP of HP's Personal Systems Group, was the former CEO of Palm and potentially the one who will oversee the integration of the ailing company.
HP's current range of smartphones is underwhelming and rather unexcited and consists only of two models, the iPaq Glisten and the iPaq 910c business messenger. The arrival of the Pre and the Pixi will reinvigorate a rather tame segment of HP's empire.
The $1.2 billion bet that the company is a significant one which could potentially change the very fabric of the company to a more vibrant and agile one.
Interestingly, out of the more than 100 acquisitions HP did over the years, Palm is the first (and only) mobile acquisition.