Don’t give up on Palm.  The one-time handheld market leader and innovator may have fallen on hard times, but their Treo line of phones is sustaining them for now. 

But Palm fans have reasons to get excited.  Elevation Partners just invested $325 million into Palm.  That is a big chunk of capital to work with.

Furthermore, Jon Rubinstein will become Palm’s new executive Chairman of the Board.  He was senior VP of hardware engineering and head of the iPod division at Apple.  Bringing in such talent is a great move for Palm.  Jon Rubinstein said of the move,

"I have tremendous respect for Ed Colligan, Jeff Hawkins and their team, and I am thrilled by the prospect of helping Palm deliver innovative products capable of transforming the mobile-device market. Approximately 1 billion cell phones are sold each year, and mobile computing is a category with enormous potential. This is a company with an impressive history of introducing game-changing products — it pioneered the smartphone — and I intend to help extend that legacy."

Read Palm’s Press Release

Read more at Geek.com

[tags]palm, ipod, jamm, just another mobile monday[/tags]

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