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Palm CEO Stands By Company Despite "For Sale" Rumour

Even as the market is rife with rumours about smartphone maker Palm Inc. being up for sale, the ailing company's CEO Jon Rubinstein has assured that it is only a matter of time when the company starts to see some progress.

This is despite the fact that the company is having a hard time in dealing with the struggling sales figures of the Palm Pre Plus and Palm Pixi Plus smartphones.

The CEO, who was the senior vice president of Apple's iPod division before joining Palm, admitted that the company's flagship device Palm Pre had seen disintegrating sales but added that Palm had $590 million in the bank which will be used to revive the company's profitability.

However, Palm's previous attempts to revive the sales figures for its phone failed owing to inadequate training of the sales staff of Verizon Wireless, which is the one of the two providers of Palm phones, the other being Sprint Nextel.

Palm's newly developed webOS, which was touted as the saviour of the company, failed to make an impression on the smartphone market.

It is currently dominated by Research in Motion's BlackBerry smartphone and Apple's iPhone, and has seen the influence of Google's Android based devices growing since early last year.

Our Comments

Palm will have some serious difficulties staying alive on its own. Our bet is that there will be some significant announcements over the next few weeks over the future of the company with a number of companies being named as potential suitors.

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