Amidst gloomy profit estimates, palmOne CEO Todd Bradley has announced his resignation. While not officially stepping down until late February, Bradley will stay on as an adviser until the end of the fiscal year in May.

Ed Colligan, President, will assume role of interim CEO while the company conducts a search for a permanent replacement.

The history of palmOne has been filled with change. Colligan and Palm co-founders Jeff Hawkins and Donna Dubinsky founded the company in the early 1990s. However in 1998, they left to start rival Handspring, which recombined in 2003, when Palm acquired it. Afterwards it spun off its software division as PalmSource and renamed itself palmOne, focusing on the hardware.

palmOne has been focusing on the smartphone market, a hybrid cell phone PDA capable of receiving email, connecting to the Internet, and placing phone calls. The Treo, palmOne's signature smartphone, was inherited through the Handspring acquisition. Growing briskly the smartphone market has overshadowed the slower sales growth of personal digital assistants, or PDAs.