Palm cancels Foleo laptop like device

Smartphone maker Palm has now announced that they are canceling the launch of their recently showcased Foleo device.

The company said that it would now be taking a charge of less than $10 million on this cancellation.

Foleo was designed to act as a companion device for their Treo range of smartphones. Market analysts had criticized the device for lacking features which would have made it a must buy.

The company now faces intense competition from rival smartphone makers like RIM. Even Apple has managed to outsell their products with their recently launched mobile phone product iPhone.

Palm Chief Executive Ed Colligan admitted in a blog post: “Our own evaluation and early market feedback were telling us that we still have a number of improvements to make Foleo a world-class product, and we can not afford to make those improvements on a platform that is not central to our core focus.”