Palm 'disapointed' by results, Pre sales

Palm's chief executive believes the Pre would have sold better if it had arrived before the Motorola Droid.

Palm Pre

Palm has said it is "deeply disappointed" with its third quarter results, despite losses narrowing significantly.

The smartphone maker recorded a net loss of $22 million in the third quarter, which looks positively festive compared to the $98 million it lost in the same period last year.

Revenues of $349.9 million were also above the company's estimates of between $300 million and $320 million.

Advertisement - Article continues below

However, while Palm shipped 960,000 smartphones to partners in the third quarter, only 408,000 of those were sold to customers, leaving stockpiles of Pre and Pixi handsets in warehouses.

As a result, the company predicted that fourth quarter earnings are likely to level out at around $150 million - less than half of what had been expected by Wall Street.

"Our recent underperformance has been extremely disappointing to me personally," said Jon Rubinstein, Palm's chief executive.

"If we could have launched at Verizon prior to the Droid, I think we would have gotten the attention the Droid got. And since I believe we have a better product, I think we could have even done better," he added.

Read on for our review of the Palm Pre.

Featured Resources

The case for a marketing content hub

Transform your digital marketing to deliver customer expectations

Download now

Fast, flexible and compliant e-signatures for global businesses

Be at the forefront of digital transformation with electronic signatures

Download now

Why CEOS should care about the move to SAP S/4HANA

And how they can accelerate business value

Download now

IT faces new security challenges in the wake of COVID-19

Beat the crisis by learning how to secure your network

Download now
Advertisement

Most Popular

Visit/operating-systems/microsoft-windows/355812/microsoft-warns-against-installing-windows-10-may-2020
Microsoft Windows

Microsoft warns users not to install Windows 10's May update

28 May 2020
Visit/security/data-breaches/355777/easyjet-faces-class-action-lawsuit-over-data-breach
data breaches

EasyJet faces class-action lawsuit over data breach

26 May 2020
Visit/security/cyber-security/355797/microsoft-bans-trend-micros-rootkit-buster-from-windows-10
cyber security

Microsoft bans Trend Micro driver from Windows 10 for "cheating" hardware tests

27 May 2020