One would have thought the acquisition of a smartphone company such as Palm would result in seeing the purchaser eventually entering the smartphone arena with new and exciting handsets sporting webOS.

However, according to Nilay Patel of Engadget, a report over on Zdnet has it that the company who purchased Palm, namely HP has no intention of entering the smartphone market.

Apparently, during the Bank of America Merrill Lunch Tech conference, Mark Hurd, the CEO of HP told investors that HP “didn’t buy Palm to be in the smartphone business,” and furthermore he isn’t going to “spend billions of dollars trying to go into the smartphone business; that doesn’t in any way make any sense.”

Basically HP was more interested in webOS which HP wants to slap on a multitude of small, “web-connected devices.” So with that in mind it is looking decidedly doubtful we will be seeing another webOS based smartphone grace the mobile phone arena in the future.