The Norway striker is starring on-loan with Trabzonspor this season and has expressed a hope to stay permanently.
However, Hodgson told VG: "A decision was made to loan him over a longer period. Now we have to live with that decision. Hopefully he continues to do well. When he returns, we hope he brings his scoring form from Trabzon's team to the Premier League with Crystal Palace."
The manager also said: "He didn't get a fair chance with us. He was set a high bar when he first came here, and he was not able to live up to expectations.
"We thought it was important that he go somewhere where he could play regularly, and hopefully show the potential we saw in him when we signed him."