Palm, which employs 1,050 workers, makes the Centro and Treo smartphones. The company's market share has been shrinking, with RIM's BlackBerry becoming the device of choice for the business set and Apple's iPhone a consumer phenomenon.
Palm has been staking its future on the launch of a yet-to-be-named operating system and device. Fox said the OS is on track to be released this year, and the device in the first half of 2009.
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