After reports that Lenovo is primed to take over Palm, many analysts are stressing that it is unlikely that the Chinese company will buy palm. Earlier, leading smartphone maker HTC had bowed out of the race.

Tech circles were earlier full of reports that Lenovo will take over palm, the troubled smartphone company. But these reports were attributed to various credit analysts by Reuters.

These reports are being circulated by investment bankers who have a vested interest in the sale of Palm. If there is no suitor for Palm, Palm may be under further problems. It also wants to create a new license business for its webOS software platform.

This new software is highly advanced and can be tweaked for various web applications. However, it has a limited support from the developer side and is still not good enough to purchase by a third party. Other software like Android has much better developer and market support.

Symbian from Nokia's stable is also going open source in its new avatar. MeeGo being jointly developed by Nokia and Intel is also a better bet and Google is also working on developing Chrome Operating System.

But Palm CEO Jon Rubinstein insisted that Palm is looking to focus on European markets in the coming days. He seems confident and declares that the company can survive without a takeover. It had declared last week that it had launched Pre Plus and Pixi Plus handsets in France already.