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CES 2009: Shares jump following announcement of new phone and new OS

Palm demonstrates new Pre Phone

Palm has used this years’ Consumer Electronics Show to showcase its latest offering for the smartphone market, according to Reuters.

The Palm Pre has been in development since 2007 under the supervision of former Apple executive and co-creator of the iPod, John Rubenstein, and carries the new Palm Web OS operating system.

The new smartphone features GPS location technology, Wi-Fi wireless connectivity and a slide out full keyboard. It will be available exclusively through Sprint Nextel Corp in the first half of 2009 but a retail price is not yet disclosed.

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