PalmOne officially becomes Palm
PalmOne Inc. became Palm Inc., Thursday, changing its Nasdaq stock market ticker symbol to PALM.
The PDA maker has also changed its logo to a new design that will appear on products later in the year, it said Thursday.
PalmOne was formed when the original Palm Inc. was renamed after spinning off its Palm OS PDA operating system software business into a separate company, PalmSource Inc., so that the software unit could concentrate on third part licensing.
The latest name change follows PalmOne’s announcement in May that it had agreed to pay PalmSource Inc. US$30 million for full rights to the Palm brand name. The Palm brand name had been co-owned by PalmOne and PalmSource since PalmSource was spun off in October 2003.
Palm manufactures PDAs (personal digital assistants), smart phones and other accessories. It has been hit hard in recent years because of an overall decline in the PDA market, and a loss of market share to companies such as Hewlett-Packard Co.
But the company has bounced back somewhat with its hit Treo smart phone products, acquired when it bought former Palm OS licensee Handspring Inc.
The company also recently changed its top management, appointing Ed Colligan [CQ] Chief Executive Officer (CEO) in May.
As PalmOne, the company formerly traded under the Nasdaq ticker symbol PLMO. Palm Inc. is now located in Sunnyvale, Calif.