Sunday, 25 April 2010

Lenovo looking to buy Palm

The worlds fourth largest PC brand Lenovo is in the frontline to purchase ailing smartphone manufacturer Palm.

With this news, shares in Lenovo rose by nearly 6 percent to take them to a near 2 year high.

News is sketchy on the Lenovo bid at the moment and not many details are available at present.

Other potential buyers include the smartphone manufacturer HTC and Huawei, the wireless telecom equipment maker. Both firms have since pulled out and withdrawn their bids.

The Chief Executive of Lenovo decided not to comment on the takeover of Palm earlier this week.

Experts agree that Lenovo, who are doing well at present, are the best candidate to buy Palm, as the Lenovo strategy is increasing their growth through purchases and moving into the “wireless” arena.

Lenovo had a staggering $2.4 billion in raw cash at the end of last year 2009. It said that they are also looking at possible amalgamation prospects.


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