AAPL Stock: 110.38 ( + 0.8 )

Printed from

Palm: Third-quarter losses worse than expected

updated 04:00 pm EDT, Mon April 7, 2008

Palm: Higher Q3 losses

Beleaguered smartphone maker Palm lost far more in its last financial quarter than it first realized, the company has announced. While it previously admitted to losing $31.5 million in a quarter ending February 28th, it now says it lost over $25 million more, for an approximate total of $57 million. In the same quarter of the prior year, the company had posted a profit of $11.8 million. The extra loss is attributed to a $25 million write-down for auction-rate securities, which have since fallen in worth due to a collapsing American debt market.

Palm's fortunes have fallen dramatically within the last two years, bringing the company from a once-dominant position in the smartphone market to being a minority player, facing stiff competition from the likes of Apple and Research in Motion. The company has seen revived hopes thanks to its Centro phone, but is still struggling with its legacy of poor Treo sales.

by MacNN Staff





Login Here

Not a member of the MacNN forums? Register now for free.


Network Headlines

Follow us on Facebook


Most Popular


Recent Reviews

Polk Hinge Wireless headphones

Polk, a company well-established in the audio market, recently released a new set of headphones aimed at the lifestyle market. The Hin ...

Blue Yeti Studio

Despite being very familiar with Blue Microphones' lower-end products -- we've long recommended the company's Snowball line of mics ...

ZTE Spro 2 Smart Projector

Home theaters are becoming more and more accessible these days, but maybe you've been a bit wary about buying a home projector. And h ...


Most Commented