Reuters is reporting that its sources have said that Chinese PC brand Lenovo is now the leading candidate to buy Palm. This follows HTC’s apparent decision to pass on the US device maker following a look at Palm’s books, the story reads. It’s estimated that Palm could sell for about $1.3 billion based on the current market, a bargain considering its once mighty position in the industry.

This would not be the first time Lenovo was involved in cellular phones, however. Several years ago, the company sold that portion of its business to focus on PCs, however it bought it back last year. It has one smartphone which is currently available in China.

 
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