Palm post a loss but describe high smartphone sales

The latest quarter's financial reports have been announced by Palm which shows a loss. However, the company does report that smartphone sales are on the increase.

 

For the quarterly sales period ending on August 31st 2008, Palm declared that it had lost a total of $41.9 million - net. However, revenue sales did increase a tad to $366.9 million from $360.8 million for the same like-for-like figures quoted this time last year. The reason for the increase in the revenue of the company was wholly down to the increase in the sales of its smartphones. This particular sector of its business is doing very well, up 49% on the previous year. For example, the Palm Centro has sold more than 2 million units in under year, according to the Information Week website.

 

Interviewed by the website, Daniel Longfield, an industry analyst with Frost & Sullivan, offered an upbeat report, "Palm's on pace for 50% to 60% year-over-year growth in sales, while the smartphone market as a whole is looking at 40% growth."

 

Click to read the Information Week story

Written by Mobile Choice
Mobile Choice

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