Printed from http://www.electronista.com

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 Electronista Staff
Post tools:

TAGS :

toggle

Comments

Login Here

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

toggle

Network Headlines

toggle

Most Popular

Sponsor

Recent Reviews

Crucial MX100 256GB SATA-3 SSD

While the price-per-gigabyte ratio for magnetic platter-based hard drives can't be beat, the speed that a SSD brings to the table for ...

Narrative Clip

With the advent of social media technology, people have been searching for new ways to share the events of their daily lives -- be it ...

Blue's Mikey Digital

Blue Microphones, a company that makes some of the most popular digital USB microphones among podcasters and musicians, has for some t ...

Sponsor

toggle

Most Commented

 
toggle

Popular News