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November 21, 2009
Palm's Slow Death Continues
June 12, 2008BloggingStocks.com
By Douglas McIntyre
Palm (PALM), the troubled smartphone company, is hoping that a new product, sold through Verizon Wireless, will help resurrect its fortunes. Not likely.
The company's Centro smartphone will go for $99. According to The Wall Street Journal, the deal with the big carrier "will make the product available starting on Friday to Verizon's (VZ) 67.2 million subscribers, with a two-year contract."
Good luck. According to research firm Changewave, a survey of IT professionals showed that most plan to buy RIM (RIMM) Blackberries in the next quarter. Apple's (AAPL) iPhone was second, and that was before the new 3G model was announced. Palm finished in last place.
Because the new iPhone has software which make it more useful to business people, the market for a smartphone from Palm is almost certain to be squeezed further. Palm has been losing money. It revenue last quarter was only $312 million.
Look around you. See all of those BlackBerrys and iPhones. No one is using a Palm.
BloggingStocks.com
