Palm head says turnaround hurt by swifter peers:

The head of smart-phone maker Palm said the company’s attempt at a turnaround – which ended earlier this year when it was bought by Hewlett Packard for $1.8 billion in cash – was thwarted by competitors that simply moved too quickly.

Speaking at a tech conference Tuesday, Jon Rubinstein said that Palm Inc., a pioneer in the smart phone market that fell behind in recent years, had many of the necessary elements for success when it launched its fresh operating software, webOS, and accompanying Pre and Pixi smart phones in 2009. These strengths included a solid team and software, a great product pipeline and over $500 million in cash.

Still, “the world moved faster than we expected and we ran out of runway,” he said.

via My Way News – Palm head says turnaround hurt by swifter peers.