For investors, Dell, Inc.'s (DELL) latest moves have been somewhat puzzling. Of course, it looks like the company will engage in a bidding war for 3Par (PAR), which is a high-end storage provider. Hewlett-Packard Company (HPQ) offered $1.6 billion for the company, which was well north of Dell's $1.15 billion offer. If Dell makes a higher bid, it would certainly be a drain on resources. After all, the company's market cap is only $22 billion whereas HP's is $89 billion.

But in the midst of the dealmaking, Dell still has to run its business. Unfortunately, things have not been so great. For example, it is only now that Dell has released a smartphone in the U.S. market.

Although it seems like a long shot that Dell, Inc. (NASDAQ: DELL) could end up buying the wireless handset division of Motorola, Inc. (NYSE: MOT), the company may indeed end up becoming a player in the wireless industry one way or another. At the least, Dell may want to hook up with a larger partner with some kind of wireless computing clout.

If the rumored Motorola deal doesn't work out, would Dell work with Google, Inc. (NASDAQ: GOOG) on a new wireless smartphone based on Google's Android software platform? There are rumors that a partnership could be announced next week at the Mobile World Congress in Spain. The question remains: why on Earth would Dell want to leap into the brutally competitive wireless arena, even with Google as an ally?

Perhaps Google needs a high-profile hardware partner to build a flagship handset to showcase its Android software system for mobile phones. "Senior Industry Sources" have claimed that a partnership between the two is on tap for next week, although an actual phone may not be the product to be announced. Dell could announce a tablet PC running the Android platform instead of an actual wireless handset, for example.