Mobile manufacturer Palm has put itself up for sale, according to Bloomberg, and could be considering bids before the end of this week.
The company is reportedly working with Goldman Sachs Group and Qatalyst Partners to find a buyer. Additionally, HTC and Lenovo Group have looked at the company and could be bidders, according to sources quoted by the news agency.
The company, which has a market value of $870.8 million, has attempted to make a comeback in the era of the smartphone with its Pre device, but it hasn’t been able to gain as much market share as it originally hoped. Additionally, its battle with Apple regarding the “syncing” of its device to iTunes software has caused a rift with the company.
However, if Palm is acquired by a larger company it could pose a threat to Apple’s dominance of the sector. Using its own operating system could see it compete with Google and Nokia.
Patrick Stafford is a freelance journalist and a former deputy editor of SmartCompany.
