“Palm Inc., the maker of the Treo e-mail phone, forecast a wider loss than analysts estimated after customers defected to the BlackBerry and iPhone,” Ville Heiskanen reports for Bloomberg.
MacDailyNews Take: “Treo e-mail phone.” It’s telling when reporters can’t even bring themselves to call it a “smartphone” anymore.
Heiskanen continues, “[Palm] faces new competition from Apple Inc., which released its iPhone in June. ‘This is horrible,’ said Pablo Perez-Fernandez, an analyst with Global Crown Capital in San Francisco. He only advises investors to buy Palm shares if they plan to hold them long term. The company’s product design ‘is just too old to compete,’ he said.”
Heiskanen reports, “Palm also said it would stop giving forecasts for sales and profit. ‘Management is signaling they have no visibility,’ Perez- Fernandez said. ‘This is a really bad report.'”
Full article here.
[Thanks to MacDailyNews Reader “MacVicta” for the heads up.]
We’ve learned and struggled for a few years here figuring out how to make a decent phone. PC guys are not going to just figure this out. They’re not going to just walk in. – Palm CEO Ed Colligan, commenting on then-rumored Apple iPhone, Nov. 16, 2006