“Shares of Palm Inc tumbled on Wednesday after an analyst downgraded the stock and questioned whether the smartphone maker will need to raise additional capital to pull off its turnaround plan,” Gabriel Madway reports for Reuters.
“The shares were down 21 percent at $3.16 in afternoon trade on Nasdaq,” Madway reports.
“Morgan Keegan analyst Tavis McCourt said in a note that he expects Palm’s cash balance to fall to $75 million next year as it launches its new platform. Its cash balance was $248 million at the end of August. ‘We are increasingly concerned that Palm has little room for additional missteps prior to its new platform launch next year without needing to raise additional capital,’ McCourt said,” Madway reports.
More in the full article here.
MacDailyNews Take: “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.” – Ed Colligan, Palm CEO, November 16, 2006
Wait… Palm is still around?
Palm has a turn-around plan?
@Peter,
Yeah, it was in the palm of their hand the whole time!
“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.” – Ed Colligan, Palm CEO, November 16, 2006.
Ed will probably, ‘just walk out’, with a golden parachute. Do it this year Ed. The taxes will be lower.
The Treo is really a great phone… in several different areas, it’s even better than the iPhone because it really is a mature OS. However, the company making it just can’t seem to get their act together and I wonder how much longer they’ll even be around?? It’s a shame, because Apple could pull a lot of great ideas from the Treo before Palm goes completely under. I think that we’re going to see the end of Palm soon.
This is where Palm Inc problem is. Their pleased with their “decent phone”. People want a great phone. So they get an iPhone!
Microsoft has the same problem, they think a “decent” operating system is all they need to achieve and people want the best. So they get a Mac!
Palm Palm Palm,
Palm Palm merang.
Maybe they can lease the Newton OS. It is superior after all.
I hate my Treo 650. It always crashes when I delete a bunch of text messages at a time. Te same thing would happen with my Treo 600. I gave them too many chances and I hope they die as a company.
@peter
you need to register yourself
@paddywack..
I hated my treo too..switched to a Centro as I had to keep a Palm OS device..and hate it even more. I wish Apple would allow a Palm emulator on the App Store.
I am very surprised Palm is still around…..I believe I hear taps playing in the background
@MacBill
Like what features….are you talking about?
Famous last words from Ed Colligan. Maybe they make good phones, but people aren’t buying just phones any more Ed. They are buying multi-function communications tools that are expandable with new software applications that are being introduced on a daily basis. The market has changed and it’s leaving Palm behind.
of course Palms suck. they were never intended to be phones. they’re pdas with a phone bolted on. but they still do have a lot of users out there. the kind that just don’t give a shit and will buy what they’re used to.
I wish I could say what I do with my palm – but this is a family friendly site.
Come on guys, let’s give palm a break. They were innovators. In some things they are a little better than our iphones/ipods.
I think that we had a lot to learn from palm with the iphone and memory management issues. If you look at the crop of apps that are coming out now for the iphone, the memory intensive ones are the ones having memory leaks. palm had this problem with their Lifedrive and NVFS systems. It is something that they are creating a new operating system around to end this problem. It is something that is not happening with their new Treos.
Although I would never use a Treo, I respect Palm for their early innovations. Apple has certainly learned a lot from them. So let’s stop bashing them.
Newton is still superior to palm
Give Palm a break? WHY?
Colligan said that PC guys couldnt just ‘walk in’.
We are supposed to respect these dumbasses and give them a break?
Sorry, NO break for you, Palm.
Your ‘mature OS’ (LOL!) didnt do so much, I guess…..
Palm, Winmob, Symbian, all needed to around at some point in time each one was a great product well 2 at least as tech gets better things improve take each one os find its strength and weakness make a better one Apple did that google effort was iffy but better than the the first 3 , Apple will evolve iphone os its a clear winner even if it lacks everything for everybody in time it will, without palm phones there be no iphone bu that said no newton no palm I be sorry to see palm die but thats free market enterprise it happens.
@rickw:
The operative word is “were”.
Adapt or die.
Peace.
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Olmecmystic
I miss my Palm Tungsten E – every day.
I have been trying to replace my palm Tungsten E by moving to an iPod touch 2G. I’ve gotten MobileMe and Mail synced – and I want to use the touch for my daily work calendar. I have zero AT&T;signal here, so the iPhone is out. The Palm support for Macs was and is limited.
I find that I miss the Palm stylus writing system – I got to be very good -and fast – at using it for making entries. I hate typing on the touch. I also miss being able to do searches on my Palm calendar (there is no search feature for the touch calendar).
My Palm was a workhorse – I had over 6 years of data with me when I carried it – and I could find past appointments quickly.
The iPod touch 2G is not a business tool – yet —
PETE!
LEARN PUNCTUATION!
Sorry for yelling.
@Splat
What features do I love about the Treo? Just off the top of my head — and there’s many more where this came from:
1. Global searching of all applications… this is a killer feature.
2. Copy and paste, cut and paste. Undo.
3. The ability to have two-way syncing of notes/memos from the Treo to your Mac… and back.
4. The ability to install 3rd-party email programs such as SnapperMail, which let you have multiple signatures, multiple email accounts all feeding into one unified inbox, robust deleting & archiving capabilities, and more. Even the built-in email program to the Palm OS has all of these features.
5. Native ability to sync directly to programs via USB… such as Pocket Quicken and FileMaker Mobile and Yojimbo.
6. The ability to attach multiple photos taken on the internal camera to an outgoing email (or outgoing SMS) all at once — and it also doesn’t tie up the phone so that you can’t send more.
7. Date/time stamps next to ALL SMS messages… not just every few SMS messages.
8. Ability to tether the phone as a modem for MacBooks.
9. Ability to install 3rd-party calendar apps such as DateBk 6, which are WAY MORE ROBUST than Apple’s calendaring program.
10. Real keyboard.
There’s soooo many more reasons, too… these are just some off the top of my head.