Two US financial analysts have forecast a bleak future for smartphone maker Palm despite speculation that US operator Verizon Wireless could be set to launch Palm’s Centro device this summer.

In a research note, Needham & Co. analyst Charlie Wolf said Palm had “lost its way” and doubted whether the company’s new operating system and redesigned smartphones – scheduled for launch later this year – would be successful.

Nomura analyst Andrew Beswick wrote in a separate report that Palm’s problem is scale as it is not large enough to compete with rivals such as Blackberry-maker RIM and HTC. He predicted that Palm would continue to lose market share and “market relevance.”

Meanwhile, separate reports suggest that Verizon Wireless is planning to launch Palm’s flagship Centro device in the summer. Rival US mobile operators AT&T and Sprint-Nextel already offer the device.