The consumer electronics company TCL, based in China, “said on Tuesday that it had acquired the rights to the Palm name and would ‘re-create’ a new company based in Silicon Valley,” CNET reports.

The story continues, “The company added that it would use input from Palm’s fan base, touting that it would be the largest crowd-sourced project in the industry…. By utilizing the Palm name, which has a long history in the mobile world with the original Treo and Pilot handhelds, and later the WebOS-powered Pre, TCL is attempting to make a splash” in the U.S.

The article adds, “‘Palm has always carried a lot of affect and emotions,’ the company said in a statement. The company said it would provide more details and a timeline of the project at a later date.”

TCL made its announcement at the Consumer Electronics Show in Las Vegas.

The old Palm logo