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12 Apr 2010
The sale of Pre smartphone maker Palm could be announced this week, according to a Bloomberg report citing three people familiar with the situation,
Palm refused to comment on what it said was "market speculation", but the report claimed that the company could be sold to Taiwan's HTC or China's Lenovo.
Palm provides products for consumers and businesses including the Pre, Treo and Centro smartphones, as well as software, services and accessories.
The company disappointed analysts last month when it released its third-quarter results, reporting a net loss of $22m (£14.5m).
Rumours that the company is now up for sale sent Palm's stock up from $5.17 to $5.93 (£3.36 to £3.85) on Monday.
Commentators have suggested that a sale to HTC would have interesting repercussions for HTC's impending lawsuit with Apple.
Apple has claimed infringement of 20 patents relating to the iPhone's user interface, hardware and architecture, but if HTC buys Palm it would hold a large portfolio of new patents that could potentially stand up to Apple's.
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