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Actually, not too long ago, PalmOne Inc bought the rights to the name Palm. PalmSource was given a grace period before they had to stop using it. But PalmOS is probably fully available as a name for Palm to use for a new OS if they want to.
And I know I'm harping on it even though there's not much info, but remember the third secret line of business for Palm? Well, it's very possible that the Linux OS work can provide a foundation for future pdas and smartphones, and also the third line of business all at once.
Plus, don't forget that Palm outsources hardware production to third party manufacturers. Treos I think were made by HTC until recently. So they do have to negotiate those vendor and supply issues and create hardware specs, but they don't need the full team of hardware people on staff.
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