Sprint: We Have Palm Pre Exclusively Through 2009

Sprint Nextel Corp.'s (S) exclusivity agreement with Palm Inc. (PALM) and its Pre smartphone runs through the year, according to a Sprint spokesman.

"We have the Pre through 2009," said spokesman James Fisher.

Verizon Wireless Chief Executive Lowell McAdam told analysts at an investor conference that over the "next six months or so," the carrier would be getting the Pre and a "cousin" device. The disclosure surprised industry watchers, although it could fit Sprint's timeline if McAdam meant six months from the Pre's June 6 launch date.

Sprint is relying on Pre as its flagship product and one of the major keys to its turnaround. The device has reached iPhone-like levels of hype and excitement, and the wireless carrier expects shortages in the early days.

"We are excited about the response to Palm Pre, and look forward to it joining our line-up," said Sprint spokesman Mark Elliott.

Verizon Wireless talking about the Pre, however, likely deflates hope that the exclusivity agreement gets extended.

Verizon Wireless is jointly owned by Verizon Communications Inc. (VZ) and Vodafone Group Plc (VOD).

Palm shares rose 8.8% to $11.46. Sprint shares rose 0.8% to $5.11.

-By Roger Cheng, Dow Jones Newswires; 201-938-2020; [e-mail]