Holiday Gift Guide »

Palm’s profits go down the drain – posts huge 1Q loss

By: , IntoMobile
Tuesday, October 2nd, 2007 at 12:37 PM

Palm posts huge lossesPalm is dying, and here’s the first indication. The critically “unnovative” (sic) Palm has just posted their 1Q report, and it looks like Palm is $841,000 in the red. Compare this with the $16 million profit that the company posted a year ago, and you can see the makings of an empire in collapse.

Palm needs to put out something new, and fast. The company seems to be holding press events that announce nothing new, all the while trying to market ho-hum devices with an antique OS and questionable design. Their next “new” release is slated for the end of next year. So the question is, can Palm hold out that long (especially with quarterly losses topping three-quarters of a million?)?

Good luck, Palm. You’re going to need it.

[Via: Bloomberg]

SPONSORED MESSAGE
Get free domestic and international calls and texts to anyone with the Vonage Mobile app available as an iPhone calling app or Android calling app.

About The Author

Will Park

Will hails from The City of Angels - Los Angeles, California. He spends his time playing with his numerous gadgets and looking forward to seeing what future holds for mobile technology. An avid promoter of a fully "digital" life, he promotes the widespread adoption of truly mobile, paper-less living. He dreams of the day when he can go completely digital. No more snail mail, paper receipts, bound books, notepads/spiral notebooks, credit cards, hard currency. He's a digital warrior - fighting for the converged life. He is an idealist and a realist - he has a perfect view of what the world should be but knows that the world is not perfect. Can we ever hope to see Will's dream become reality? We'll see...

  • bob kleiber

    you are officially a dope – a “HUGE” loss of $750 thousand dollars? that’s a rounding error in financial terms – have you looked at Palm’s balance sheet? do you know what a balance sheet is? PLEASE don’t comment on things about which you know next to nothing – stick to shilling for that piece of garbage Windows Mobile – its on version 6 and they still aren’t close to having it right -