GO
Loading...

Palm CEO Tells CNBC: Focus Isn't On Finding a Buyer for Company

Responding to continued speculation about being a possible takeover target, Palm CEO Ed Colligan told CNBC that "we're not focused on figuring out how to sell the company."

“We’re launching the most innovative products in the market place,” Colligan told CNBC’s Jim Goldman. “We’re trying to continue to push that envelope. We’re not focused on figuring out how to sell the company. We’re focused on how to build the company and create long-term shareholder value.”

Speculation about a possible sale have swirled around Palm for months, most recently involving Nokia, Motorola or private equity players Texas Pacific Group and Silver Lake Partners.

Palm also reportedly hired Morgan Stanley to pursue a buyer.

Meeting with industry leaders at a conference in Carlsbad, Calif., Palm rolled out Foleo, it’s first smart-phone companion product.

Foleo offers a large screen and full-size keyboard that allow users to easily view and edit office files and e-mail residing on a smart-phone. Edits made on Foleo are reflected automatically on its paired smart-phone and the process also works in reverse.

“It’s magic is when it’s paired with a Trio or another smart phone,” Colligan told CNBC. “We think more and more of the world are going to have smart phones and they’re going to need one big thing to complete that mobile computing system: a more robust screen and keyboard.”

Contact U.S. News

  • CNBC NEWSLETTERS

    Get the best of CNBC in your inbox

    › Learn More*

Don't Miss

U.S. Video

  • CNBC's Tyler Mathisen looks back at the week's top business and financial stories. The markets were closed for Thanksgiving, but did manage to hit new highs. Low oil prices gave consumers more money to spend for Black Friday.

  • Cyber Monday deals on Walmart's website on Dec. 2, 2013.

    CNBC's Tyler Mathisen looks ahead to what are likely to be next week's top stories. The jobs report comes out this week, as do auto sales. And the Rockefeller Center Christmas tree is lit.

  • Following last week's wild energy ride, analysts expect oil prices to continue to drop during the holiday season. CNBC's Patti Domm reports.