Palm, a former icon of technology that was largely given up for dead by Wall Street, has emerged as an unlikely star from this week’s annual Consumer Electronics Show with a new product that many tech analysts are already comparing with Apple’s iPhone.

Shares in the slumping maker of smartphones and personal digital assistants rose by nearly 38 per cent during early trading yesterday – on top of Thursday’s surge of 34 per cent – after the company showed off the Pre smartphone, as well as its first new operating system in 12 years.