Palm shares fall on outlook as rivals gain share
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Palm Inc , the maker of  Treo cell phones, forecast lower-than-expected revenue amid  tough competition from Research in Motion Ltd's   Blackberry and Apple Inc's  iPhone, sending its shares  tumbling 12 percent on Tuesday.
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Palm, the maker of Treo smart phones, said profit slipped on stock option expenses and slow sales growth amid tougher competition.
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Treo smartphone maker Palm Inc.  could bring a buyer a decade's worth of digital assistant design and mobile phone know-how, but at a hefty price for a company no longer viewed as cutting edge.
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Palm is still profitable but it can't thrive in the long run, according to a noted industry analyst. So now is a good time for the company to put itself up for sale.
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Palm Inc.  cut its second-quarter profit and revenue forecasts on Monday, blaming a delay in shipping its new Treo 750 smartphone in the United States.
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Soon after announcing plans to sell stake in company to venture capital firm, Palm cuts unspecified number of jobs Thursday, CNET News.com has learned.
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Palm warned that its upcoming earnings report could be weaker than expected.
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Shipments of devices running the Palm OS have declined sharply, researcher says.
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Recent reports that Nokia is in talks to buy Palm surprise some analysts, who nonetheless said some type of buyout might make sense.
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Palm Inc.'s death knell has been rung over and over &#151; on Wall Street, in headlines, and by a growing number of discontented fans.
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(InfoWorld) - One of the main attractions of Palm's business was its software expertise, according to private-equity firm Elevation Partners, which plans toÂ acquire about 25 percent of the struggling mobile device maker. Ending speculation that Palm would be gobbled up by mobile phone vendors Motorola or Nokia, Elevation said Monday it would pay $325 million to buy approximately one quarter of Palm's shares. Subject to shareholder approval and other closing conditions, the deal is due to be completed in the third quarter of this year. Elevation has been looking closely at Palm for the last six to seven months, said Roger McNamee, a managing director and cofounder of the private-equity company. He believes limits are being reached in hardware design for mobile devices with a sense that the devices can't be shrunk any further without losing the functionality customers expect. McNamee admitted that Palm had been out of sync with developments occurring in the mobile hardware device market. "They'll close that gap relatively soon, then the game will be all about software," he said. "Software is where this company [Palm] truly excels." The company has struggled in the face of strong competition from Motorola and Nokia with their smartphones and has found it hard to sell its products to corporations hooked on Research In Motion's BlackBerry devices. At the same time, Palm anticipates that more and more people will access the Internet from mobile devices. "We're incredibly well positioned to pursue that opportunity," said Ed Colligan, Palm president and CEO. "We have a broad range of software efforts underway here. Software is the battleground of the future." Palm continues to design systems infrastructure, applications, and services, which it's extending into different form factors, including its newÂ Foleo handheld computer, he added. Once the deal closes, McNamee is set to join Palm's board of directors along with his colleague at Elevation, Fred Anderson, Apple's former CFO. The debut of Apple's iPhone, the company's first ever cell phone, due out June 29, will benefit Palm, McNamee said. "We've every reason to believe that the iPhone will be incredibly successful," he added. "It's a chance to bring software to the fore. Palm has a long tradition of great user interface design." Elevation's investment in Palm is all about providing the vendor with better resources to execute on its current product road map, McNamee said, to both retain its current employees and attract new talent. The investment will also enable Palm to continue making small acquisitions, Colligan added, with the company expecting to have more than $300 million in cash on its balance sheet once the Elevation deal closes. Palm and Elevation are pinning their hopes for positive changes to Palm's development processes on a third new board member, Jon Rubinstein, who will join Palm as its executive chairman. They're looking forward to the combination of Rubinstein and Palm's founder and current technical guru Jeff Hawkins. While Rubinstein helped in the creation of Apple's iPod music player and iMac computer, Hawkins pioneered both the first handheld and smartphone devices. "It's a team that can't be beat," McNamee said. Colligan added that while Hawkins has a good feel for the "next big thing" in technology, Rubinstein is very strong on the execution of product development.
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Handheld computer maker Palm Inc.   PALM.O on Thursday posted lower first quarter net income as   costs rose and the company began expensing stock options, but   the results topped Wall Street forecasts.
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Palm Inc , the maker of  Treo smartphones, posted a quarterly loss on Tuesday after a  delay of a key new product.
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U.S. stocks fell on Thursday, led by a  sharp decline in the tech sector as shares of online auctioneer  eBay Inc. EBAY.O and wireless technology company Qualcomm  Inc. QCOM.O took a beating a day after both companies  reported disappointing outlooks.
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Needs those new models, sharpish Palm says its most recent quarter's earnings will come in lower than it hoped. The company said revenue for 1H 2007, which it previously stated would come in between $380m and $385m, will fall short, between $354m and $364m.â¦
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By MAY WONG SAN JOSE, Calif. - Faced with mounting competition in the smart-phone market, Palm Inc. is selling a quarter of its company to a private equity firm to arm itself with new leadership, most notably the former technical guru behind the iPod.
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Smartphone maker Palm Inc. will sell a 25 percent stake to private equity firm Elevation Partners for $325 million and name the former technical guru behind the iPod to be chairman, the company said Monday.