Don't count Palm out just yet: the company announced that Elevation Partners has agreed to make an additional $100 million equity investment, which Palm is hoping will propel them beyond key product introductions in 2009, according to the Wall Street Journal.

The move immediately followed a report that Palm lost over $500 million during the second quarter, as more and more smartphone buyers chose models from RIM, Apple, HTC, and other makers ahead of the venerable handheld pioneer.

Most folks expect Palm to finally introduce its next-generation Palm OS, codenamed "Nova," at CES in two weeks. But the company has yet to officially confirm that—despite teasing the tech press with a cryptic invitation. The company did confirm, however, that the Nova OS is already in the wild, at least with regard to the wireless carriers and various third-party developers.