The negative financial results and sick balance sheets of Palm Incorporation have led the company to put itself up for a sale.

It has been reported that Palm has hired the services of Goldman Sachs in order to locate a buyer for it.

Though no announcement about the sale has been made public but HTC and Lenovo are being seeked as potential bidders for the group.

Palm has been trying its best to revive the position for years now but its ailing condition is out in the public now. It did put some devices in the market to obtain back the market share but it was of no use. It even launched Palm Pre which was laid on the platform of a new operating system.

The marketing efforts could not save the device from failing to capture the eye of the consumer. If it would have been marketed in the right direction, some difference could have been made.

Palm does have many credits given to its innovation in the past in the cell phone market which makes the company attractive for the competitors. Its success in the United States is not forgetful.