True or Photoshopped we don't know but the picture sure looks suggestive. It is slated to feature Bluetooth, EVDO, MicroSD and integrated camera, but we kinda doubt the authenticity of the photo. Still it was too hard for us to ignore the picture, so that's why it's here.
The device clearly shows a Palm logo and prototype serial number along with Vodafone branding. It also has the home and back navigational buttons found on all Windows Mobile smartphone devices. The Vodafone mark indicates this is a GSM device which will be offered in Europe. No other details accompanied the picture.

It is rumored that the Palm Gandolf the first Windows Mobile Palm phone will debut on Sprint for under $200, lets wait and watch.
Source