Palm, Inc. today unveiled the Palm m500 series handhelds. Two new models–the Palm m500 monochrome handheld and the Palm m505 color handheld–feature a Secure Digital (SD) and MultiMediaCard expansion slot about the size of a postage stamp, a new Universal Connector for hardware add-on modules, and Internet connectivity software. Both handhelds feature a new Arctic Mist metallic silver color as well as a new, gentle curve form factor.

The m500 handheld, weighing four ounces, is scheduled to be available in the United States in late April for an estimated street price of $399. International availability is expected in May. The m505 handheld is scheduled to be available in the United States in May for $449. International availability is expected in June.

The Palm m500 series has a dual expansion architecture, meaning that besides the SD and MultiMediaCard expansion slot, it also features a new Universal Connector, which supports add-on modules. These new expansion technologies will be common across future Palm handhelds.

The m500 series handhelds offer a faster processor, the Dragonball VZ 33MHz. Both models have 4MB flash memory and 8MB of RAM. Both the m500 and m505 can be programmed for silent alerts. Users can choose between an audible alarm, a vibrate mode, or a blinking LED for notification of important events and messages. Also included are the Clock and Note Pad applications, first introduced in the Palm m100 series handhelds.