Palm has canceled the Linux-based Foleo mobile companion, CEO Ed Colligan announced today on the company's blog. Colligan said the move would cost the company $10 million in earnings, but allow it to focus on a single Linux smartphone development platform going forward.

Palm announced its WebOS Linux platform yesterday, along with a smartphone to run it. To be sold by Sprint in the first half of 2009, the 3G-enabled Palm Pre features a slide-out keyboard, WiFi, GPS, 3-megapixel camera, 3.1-inch touchscreen, and Palm's homegrown "WebOS" Linux phone stack.

As promised, Palm's Linux-based smartphone went on sale Saturday, available exclusively for Sprint networks, says eWEEK. Early reviews have been favorable, although analysts worry about the lack of software and the ability of Sprint to effectively market the Palm Pre.

The Linux-based Palm Pre is a sleek smartphone full of features-- but is it feature-ful enough? Gerry Blackwell gives a detailed report on this new entry in the smartphone marketplace.

Artifex Software is suing Palm over the PDF (Portable Document Format) viewer in Palm's Pre smartphone, it said on Thursday.

Open source project Amarok, in an open letter to Palm, has invited the company to work with them. The reason: the Apple iTunes 8.2.1 update guarantees that the Linux-based Palm Pre smartphone can no longer use the iTunes music management software.

Sprint and Verizon Wireless have released Palm's upgraded 1.4 version of the Linux-based WebOS for Palm Pre and Palm Pixi smartphones. Ofering much-anticipated video capture and editing functionality plus improved messaging features, WebOS 1.4 arrives shortly after Palm announced lowered investment guidance due to disappointing smartphone sales.

Contrary to recent rumors, it's not Palm's first Linux smartphone, and no, it's not a competitor to Nokia's Linux-based N800 Internet Tablet. Rather, Palm today unveiled the Foleo, which it's calling a 'new class' of mobile device.

Palm is taking a page from Apple's iPhone strategy book when it comes to keeping things quiet regarding its newly-announced Pre smartphone and webOS mobile platform. The two things Palm (NASDAQ: PALM) will say is that it is focused on completing software development and network certification requirements and expects devices to be available by June.