The format is designed for Kodak cameras to store uncompressed RAW images in their original form without auto color and white balance correction. The file has a TIFF-structure that allows you to edit the color temperature and exposure of the finished image without losing information and quality, which is something that cannot be done with JPEG format images.
This format is used for storing bitmap images. It supports many different file types and compression algorithms. One Palm bitmap file can contain multiple versions of the same images with different colors. These files are used on PALM devices.