Palm Says Loss Is a Possibility
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Facing increasing competition in the smartphone market, Palm Inc., said Wednesday that it might see a small loss in its fiscal first quarter.
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PalmSource with its popular product PalmOS plans on producing a new, Linux-based version of their handheld operating system. The move towards Linux-based Operation System for mobile &amp; handheld devices is supposed
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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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Handheld computer and phone maker  Palm Inc.  on Thursday posted a higher quarterly profit  driven by sales of its Treo mobile phones, but issued a revenue  forecast that was below Wall Street estimates and shares fell 8  percent.
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Rumours of our death are in no way ex... Comment Last week we ran an article covering the launch of a new Palm OS emulation environment, and commented that development for Palm OS was grinding to a halt and the platform would soon be forgotten.â¦
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(InfoWorld) - Palm Inc.'s financial future looked a little more secure Monday as private-equity firm Elevation Partners said it will pump US$325 million into the mobile device manufacturer. In recent months, rumors have swirled that Palm would beÂ acquired by either Motorola Inc. or Nokia Corp. as theÂ company faces increasingly aggressive competitionÂ in the smartphone market. The recapitalization plan followsÂ months of rumorsÂ that Palm was seeking a buyer, or help from the banking community to fuel a turnaround. The deal has Elevation taking a 25 percent equity stake in Palm, valuing the company at $8.50 per share, a premium of around 16 percent compared with the stock's performance over the last 10 trading days. Elevation is a $1.9 billion private-equity firm and one of its five partners is Bono, the lead singer of Irish rock band U2. The investment in Palm is by far the largest the firm has ever made. The device maker has also secured $400 million and a $40 million revolving credit facility. Palm will use the proceeds from the sale of its stock and the proceeds from the new debt to fund a $9 per share cash distribution to its shareholders, excluding Elevation. The total amount of money shareholders will receive will be around $940 million. Palm expects the move will leave it with more than $300 million of cash on its balance sheet. Subject to shareholder approval and other closing conditions, Palm expects to complete the recapitalization in the third quarter of this calendar year. Once the deal closes, there will also be changes in Palm's board of directors. Jon Rubinstein, Apple Inc.'s former vice president of hardware engineering and head of its iPod division, will become executive chairman of Palm's board. He will also head up Palm's product development efforts. Besides helping create the iPod music player, Rubinstein had a hand in building the iMac computer. He's seen as instrumental in Apple's successful turnaround, responsible for revamping the company's engineering teams, product road maps and manufacturing processes. Current Chairman Eric Benhamou and board member D. Scott Mercer will resign from Palm's board and will be replaced by Rubinstein along with Fred Anderson and Roger McNamee, managing directors and co-founders of Elevation. Palm will increase the size of its board from eight to nine members. Anderson was Apple's chief financial officer from 1996 to 2004 and McNamee is a long-time venture capitalist. The transaction means that Palm will strengthen its leadership team and "create a more effective capital structure," putting it in "a great position to attract new talent, significantly strengthen our execution capabilities, and deliver long-term shareholder value," Ed Colligan, Palm president and CEO, said in a statement. Along with its handheld devices and Treo smartphones, Palm last weekÂ debuted a handheld computer called Foleo, which it calls a smartphone companion device.
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New Windows Mobile alternative Apple's iPhone is going to hit Palm hard, a US analyst has forecast. Research in Motion's consumer-friendly BlackBerry Curve will harm the PDA pioneer too, Piper Jaffray wireless hardware analyst T Michael Walkley claimed this week.â¦
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It appears the rumours of Palm creating a Wi-Fi card are true, however before you rush to your local electronics store take note that it won&#39;t work on any PDA you can find.
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&quot;Future Palm devices may run Linux, thanks to a surprise purchase by PalmSource. The company, which makes the operating software for the PalmOne devices (notably the Treo smartphones), intends to buy China
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Not dead, just sleeping Palm CEO Ed Colligan has told Brighthand it won't have devices based on its own version of Palm OS until some time in 2008, despite saying two months ago the devices would be available later this year.â¦
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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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Handheld computer maker Palm Inc.   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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Treo smart-phone maker Palm Inc., which is facing increasing competition and recently pulled a major new product just before its scheduled launch, said Wednesday it expects its profit to fall in its fiscal first quarter.
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(InfoWorld) - AfterÂ canceling its controversial FoleoÂ product and continuing to struggle with a shift away from the personal digital assistant market, Palm warned on Wednesday that its upcoming earnings report could be weaker than expected. For the quarter ending Aug. 31, Palm will lose $0.01 per share or break even, the company said. Earlier, the company had said it expected a loss of $0.01 or a gain of $0.01 in the period. That compares with a gain of $0.35 per share in the same quarter last year. Palm also narrowed its revenue forecast to between $359 million and $361 million, instead of the previously expected $355 million to $365 million. Palm will release its quarterly earnings report on Oct. 1. The company is facing challenges as it changes its business from one focused on PDAs to one that specializes in smart phones. Earlier this month, Palm announced it wouldn't ship the Foleo, a companion product to itsÂ Treo smart phone, as planned. When the device was announced, analysts said it would be too expensive and wouldn't offer valuable features. Palm said it decided to focus instead on its own software platform that is due out in 2008 or 2009.
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Company said Thursday that it's seeking alternatives that might include selling off its cell phone business.
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Details of Palm Inc.'s new smart phone are emerging ahead of the product's launch tomorrow.
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Palm Inc.  cut second-quarter profit and revenue forecasts on Monday, blaming a delay in shipping its new Treo 750 smartphone in the United States.