(Bloomberg) -- Palm Inc., maker of the Treo e-mail phone, was upgraded to ``equal weight'' from ``underweight'' at Lehman Brothers, which said the market for its phones may experience ``rapid'' growth as competition declines.
The smartphone market is expanding at a pace of 25 percent to 30 percent a year and could grow as much as 50 percent, compared with a 22 percent growth rate for handsets, analyst Jeff Kvaal wrote in a note. Smartphones are phones capable of running advanced functions such as sending e-mail.
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