A Palm Treo 700 phone on display at a Verizon store in Salinas, Calif., Monday, June 4, 2007. Smartphone maker Palm Inc. will sell a 25 percent stake to private equity firm Elevation Partners for $325 million and name the former technical guru behind the iPod to be chairman, the company said Monday. The deal with the long-term investor brings significant new leadership to Palm, which has been battling stiffening competition in a market that is only going to get tougher with Apple Inc.'s June 29 debut of the iPhone. (AP Photo/Paul Sakuma)
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