“With revenue falling to dire levels, Palm may need a Christmas miracle to stay afloat next year,” Tom Krazit reports for CNET.
“The latest dose of bad news? Revenue for Palm’s second fiscal quarter, which ended last week, will be just $190 million to $195 million, the company announced Monday ahead of its December 18th conference call,” Krazit reports. “Wall Street analysts had been expecting Palm to record $331 million in revenue, an astonishing 41 percent gap caused by ‘reduced demand for maturing smartphone and handheld products,’ Palm said in a press release.”
MacDailyNews Take: Hey, Palm, try the Antiques Roadshow.
Krazit continues, “Last week Palm revealed plans to cut workers and refocus its business as it copes with a poor economy and strong competition from the likes of Apple… Palm’s Treos were once very popular, but they have looked positively ancient against the iPhone.”
“The company’s fortunes will be determined by a race against time: if Palm can get products using its Nova operating system–which scheduled to arrive in the first half of 2009–out in the market before sales of Treos dwindle to zero, it has a chance to regain its perch atop the mobile computing world,” Krazit reports.
Full article here.
MacDailyNews Take: Poor Tommy Krazit’s lost his mind if he really thinks Palm has any chance whatsoever — including a “Christmas miracle” — to “regain its perch atop the mobile computing world.”
Palm is dead.
“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
[Thanks to MacDailyNews Reader “bc,” a self-described “former long-time Palm & Treo user / now much happier iPhone owner,” for the heads up.]