The Palm Foleo, the smartphone companion that was met with universal pans when it was announced at the end of May, has officially gotten canned by Palm. A laptop-that's-not-a-laptop, the Foleo was basically designed to expand the Palm Treo with a bigger keyboard and screen, allowing users to write emails more comfortably on it when at a desk.

The problem was, it wasn't going to be powerful enough to do much else, and for $500 there are certainly more fully featured options out there for portable computing. People couldn't really see a businessman leaving his full laptop at home to carry the half-assed Foleo around, and if he had his laptop he wouldn't need the Foleo. Due in part to the widespread panning of the Foleo, Palm has (wisely) decided to take a $10 million hit and cancel the device on the eve of its shipment. That takes guts; hopefully it'll turn out to be the right decision for the company. — Adam Frucci

Palm, via Boing Boing Gadgets