THE WRAP: HP to the rescue, Google's U-turn

This week HP grabbed Palm, Google did a U-turn on Nexus One and China passed a new law to protect state secrets.
HP emerged as the surprise buyer of Palm,  agreeing to pay $1.2 billion (€906 million) in cash in order to get hold of the loss-making handset firm’s WebOS platform.
Google abandoned its strategy of competing in the sales channel with operators, announcing it would sell the Nexus One in Europe solely through carrier partners.
China passed a new state secrets law that would require ISPs and telcos to report any loss of state secrets and terminate transmissions “immediately.” 
RIM showed off its new touchscreen-based BlackBerry OS, set to launch in the third quarter.
Nokia unveiled the N8, the first device based on the open source Symbian 3 platform, after details had been leaked to a Russian blogger.
With the iPhone claiming 72% of Japan’s smartphone market, Japanese handset firms joined with NTT DoCoMo to develop their own mobile apps platform
In its first quarterly filing China Telecom said income had fallen 9.1%, while ZTE boosted net 40% on the back of higher handset sales and a tax rebate.
Motorola returned to the black with a $69 million (€52.1 million) quarterly profit as smartphone sales beat forecasts.
AT&T sold its 7% stake in Indian outsourcing firm Tech Mahindra for $147 million (111 million).
India’s DoT told operators to stop buying Chinese-made network equipment.
Telstra planned to cut another 900 jobs.
And Sony said that after nearly three decades it would stop making floppy disks.