PalmOne officially becomes Palm

Latest name change follows PalmOne's acquiring full rights to the Palm brand name

PalmOne became Palm on 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, 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 $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.

But the company has bounced back somewhat with its hit Treo smart phone products, acquired when it bought former Palm OS licensee Handspring.

The company also recently changed its top management, appointing Ed Colligan Chief Executive Officer in May.

As PalmOne, the company formerly traded under the Nasdaq ticker symbol PLMO. Palm is now located in Sunnyvale, California.

Copyright © 2005 IDG Communications, Inc.

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