Bear in mind that this could be complete rubbish, but unconfirmed reports from "trusted sources" have reportedly stated that Palm's first Nova-based handset will tout a full QWERTY keyboard that slides down beneath a touchscreen (is your imagination running wild yet?). Moreover (and more importantly), the fresh operating system is being described as "amazing," and we're also told that "a ton" of software will be pre-loaded to provide multimedia playback as well as traditional functions such as calendar, email, and contacts. We can't help but say that we're pretty jazzed to hear positive vibes flowing just before CES really gets in gear, but we'll attempt to remain placid until something a touch more concrete is revealed.

Update: Ricky from MobileBurn wrote in to tell us that his sources are pegging the first device to be a Sprint exclusive -- for how long, no one knows -- and will feature a high-spec cam of some sort. It's all rumor and speculation at this point, but yeah, we're definitely still stoked.

Personally, we wouldn't want to be within 15 feet of a Centro being mercilessly overclocked to a mind-numbing 936MHz, but we reckon that's where our fearless readers come into play. We're told that this sucker reached prompt criticality and melted into the Earth's crust shortly after this screen shot was taken, and you know what? We can't say we blame it.

[Thanks, Jason]

According to reports today, Palm has managed to snag another $100 million from Elevation Partners (the private equity team co-owned by Bono). The new figure gets tacked onto Palm's existing $325 million buy-in from the firm. The previous sum was put towards the struggling handset / software-maker's "strategic recapitalization," and we can only assume this latest infusion is being used for the home stretch into that New OS and those New devices we're expecting see come CES. It's not completely surprising you'd want to juice your previous large investment, but if Palm's numbers keep shifting downward, it seems unlikely this will be anything other than a Hail Mary. Even if Bono loses $100m in his couch cushions, it doesn't mean Elevation Partners is in for the long haul.

Use a Palm phone? Like the idea of Nova? We hope so, because the company revealed in its earnings call yesterday that it'd be transitioning its entire lineup over to the new, homegrown platform, though it'll continue to market Windows Mobile-based devices like the Treo Pro to businesses. Speaking of the Treo Pro, Palm mentioned that it'd be bringing its top-of-the-line WinMo device to a US carrier this quarter -- we think we know which one -- but the big news is unquestionably Nova, which will be released on a range of all-new hardware starting in the first half of '09. It claims that carriers who've seen the platform are "universally excited" about it, which we suppose is a good start -- but the real trick, of course, is to get consumers universally excited about it as well.

[Via Phone Scoop]

Update: Sascha Seagan of PC Magazine wrote in to let us know that Nova's unveiling at CES wasn't actually confirmed on the call -- but in light of the buzz they've been drumming up, it seems certain that it'll happen. What Palm did reveal is that Nova is already in the hands of some of its development partners (anyone want to send us pictures?) and that traditional non-phone PDAs -- that is, the foundation upon which Palm was built -- will not continue to be developed as Nova comes into play. We still love the Palm V after all these years, don't you?

Apple's doing it. RIM's doing it. Google's doing it. Heck, even Microsoft might be doing it. As the peer pressure mounts, Palm has finally decided to cave and introduce its very own applications market place, which is simply being christened Software Store. Oddly, it looks as if Palm farmed out the production of said store to one PocketGear, but we're assured that the app will hum along just fine on over 25 Windows Mobile / Palm OS-based Palm devices. Available for download as we speak, it offers up over 5,000 apps and games, 1,000 of which are completely free. Hmm, we wonder if Palm's keeping a Nova-compatible version in its back pocket?

[Thanks to everyone who sent this in]

Update: Palm pinged us to say that this is actually the very same software store that has been around, it's just a sweet looking veneer to make accessing it easier.

Everyone was a little taken aback by Palm's decision to sell its new top-of-the-line Treo Pro direct -- unlocked, no less -- rather than pairing up with AT&T or T-Mobile to get the phone more exposure at a lower price point. Whether that was ultimately Palm's decision or an unwillingness on the carriers' part to get a deal done, we may never know, but you've always been able to snap one up and use it on AT&T's 3G airwaves right out of the box. For the skittish among us, that may not have been enough reassurance that you'd be able to use the unbranded phone without the occasional hiccup, so for you, Palm has gone ahead and pushed the Treo Pro through AT&T's Specialty Vertical Devices program, which is code for "stuff we know works on our network, but we have no interest in selling on contract." It'll probably win a few extra sales with large companies that require fully-certified wireless gear, but for the average consumer, there's probably little consequence here.

Palm's newfound place back on the map of relevance has people all sorts of excited, including one Douglas C. Jeffries. The former chief accounting officer at eBay has been appointed CFO at Palm, taking the place of the occasionally cagey Andy Brown. Mr. Jeffries will officially be wearing his new badge in January, though Andy will stay on into the new year to ensure "a smooth transition." Ed Colligan, president and chief executive officer, stated that he was "delighted to welcome Doug Jeffries to the Palm team," noting that his "extensive financial, operational and strategic experience will contribute enormously to Palm's future success." Of course, we'd say that a fresh OS and / or device at CES would contribute infinitely more to this strange beast called "success," but maybe we're underestimating this man's clout.

[Via Palm InfoCenter]

New-ness, anyone? BusinessWeek is speaking in rather authoritative terms that we'll all be treated to the next generation of Palm OS -- Nova, as it were -- at a grand unveiling next month in Vegas. Details are still sketchy to say the least, but word has it that the company's engineers are super stoked about whatever it is they plan to unveil -- and considering the breadth and depth of the engineering team Rubinstein has managed to assemble over there, that's saying something (hopefully). The pub pegs Nova's commercial release for mid-2009, which jibes with the latest we've been hearing, promising to deliver a platform for meeting the needs of the "fat middle" of the market that lies somewhere between the buttoned-up BlackBerry and the media-rich iPhone (and no, we didn't just call you fat). The company apparently wants to create devices that "make smarter use of data about you," but until we have a Nova-powered phone in our soft, supple hands, that little gem of marketing doublespeak really doesn't mean squat to us. Just a few more weeks, ladies and gentlemen.

Say, remember how there was supposed to be a Treo Pro coming to Sprint? Yeah, well, the time is drawing near for that to go down; odds are it could've happened sooner, but Sprint probably wanted to give its fairly fresh 800w a little breathing room before getting sunsetted in favor of the significantly more attractive Pro. The carrier is currently targeting January 25 for the model to be available in all channels for $549.99 -- which we're guessing (hoping) will come down to $249.99 or so after rebates, subsidies, and all that jazz. Also launching in January should be the Motorola i365IS -- an even more rugged model of the already beefy i365 -- and a pink version of the Instinct. If that's not a veritable potpourri of phones covering every corner of the market, we don't know what is.

[Thanks, anonymous tipster]

Remember when we used to write about Palm in order to talk about its devices and / or operating system(s)? Man, those were the days. Now, it just seems like one sadness-filled report after another, and just days after hearing that it would be cutting an undisclosed amount of employees in order to trim operating expenses, in comes even more doom and gloom courtesy of its preliminary Q2 (fiscal year 2009) results. The company is expecting to record revenues ranging between $190 million to $195 million, far short of the $331 million Wall Street had been counting on. The shortfall was blamed on "a difficult economic environment [which had] greatly intensified the negative impact on product sales." Of course, the visionary Ed Colligan (CEO) still maintains that by reducing its cost structure it can "launch next-generation products as planned," but seriously, why should we believe that line now? Time to put up or shut up, Palm.

[Via CNET, image courtesy of PalmFocus]

My, my -- how's this for truth in advertising? Palm InfoCenter has confirmed with a Palm spokesperson that the flagging outfit will be laying off an undisclosed amount of employees as the economy worsens and the firm attempts to keep that final nail from being slammed down on its coffin. According to the spokesperson, the company will undergo a certain amount of restructuring (sound familiar?) that will "result in company reductions in the US and internationally." Incredulously, the statement also included this gem: "The global economic downturn continues to dampen demand for consumer goods around the world, and the impact on the economic environment is worsened by our maturing Centro line and the length of time it is taking to ramp our new Windows Mobile products." We won't say for sure that it's actually taking some of the blame here, but it sure sounds like it. Now, if only it would take charge of its future...

[Image courtesy of DayLife]

Aw, isn't this cute? Palm's unlocked Treo Pro has just received its very first software update, and we're happy to bring along the obligatory balloons and party foods. As of today, users of the Treo Pro can download a Bluetooth Update which reportedly resolves an issue with multiple calls sometimes getting twisted and diverted to voicemail and / or an operator on Pluto. In other words, this update will eliminate those conversations you keep having with extraterrestrial beings, so it's probably worth installing. Got it? Good.

[Via Palm InfoCenter]

Stock downgrades are nothing new for the boys and girls at Palm, but analyst Tavis McCourt of Morgan Keegan (which certainly sounds like an important and all-knowing firm) has painted a particularly bleak picture of the company's books today -- so grim, in fact, that it set off a 20 percent drop in the company's market cap. Apparently the big concern is Palm's cash burn rate, which has left a cash reserve of just under a quarter billion dollars through a series of delays and setbacks that have been partially offset by moderate successes like the Centro. McCourt figures that'll be down to a mere $75 million by the time Palm OS 2 launches, and that's assuming they don't run into any more slips in the schedule. He notes that Bono can always just flip 'em a few more mil out of his Joshua Tree earnings, but it'll end up diluting existing shareholders' stakes, hence the massive drop in value today. No pressure, Palm.

Don't cancel your election party to get to this or anything, but Verizon Wireless' Palm Centro has just received a teeny, tiny update. The newly released v1.03 ROM update is dubbed "a minor tune-up that may improve device usability in certain situations." That's about as indistinct as it could possibly get, but you know you're still going to pull the trigger. It's ready to be installed right now via Hotsync or SD card, and as always, we'd recommend backing up your interoffice love letters just in case something goes awry.

[Via Palm InfoCenter]