Elevation Partners invested $325 million on Palm back in June 2007, when it was dire need for capital just to even maintain operation. The Centro ($100 at launch) has brought them some success in the budget smartphone market, but their Treo Pro has not cracked the upper market, dominated by Apple, Nokia and Research In Motion. Recently, Roger McNamee, co-founder and chief financier of Elevation Partners, publicly said the mystery phone is unlike “anything on the market”. Now they’re claiming they’ve got the “Palm new-ness we’ve been waiting for” [for years, Ed Colligan!] at CES 2009. We know Palm is bringing a new smartphone for CES, but could they have more tucked under their sleeves? New OS (Linux Nova, anyone?) possibly, away from Microsoft Windows Mobile? Or will Palm disappoint once again? One thing for sure – Palm stole Jon Rubinstein, former head of iPhone engineering from Apple and we will see whether his leadership will save Palm. Considering Palm’s books are running low again, they need a shot in the arm fast. Real fast.
