Disqus
The ailing manufacturer of the Palm Treo lineup has taken yet another hit to its market-stance. After having pulled development of the Flop-eo (sorry, that’s Foleo), Palm seems to be navigating rougher waters. Palm’s shares took a dive today after an announcement that a shipping delay, coupled with “unforeseen” warranty repairs, would cause Palm to see a Q4 2007 loss.
Palm has already seen a 35% loss since closing their deal with Elevation Partners, and has just dropped another 18% to trade at $5.41 in early-hours trading. Stiff competition from RIM and Apple were cited to be largely contributing to the company’s loss of market share, and by extension, losses on the stock market. The Palm Treo has seen a declining market share while RIM’s BlackBerry lineup has been booming – and Apple’s iPhone has presented another major detractor to Palm’s marketshare. Hopefully the new OS will help boost Palm’s lagging position on the smartphone front. If it ever arrives, that is.
Palm might do well to consider selling another bunk-stake in the company in exchange for another cash-infusion? It wouldn’t be a good deal for the investor, but Palm needs the money. Any charity investors out there?
[Via: MarketWatch]
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...
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Neil
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Will Park
