Treo developer leaves Palm
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Michael Farese steps down from his position as senior vice president of engineering at the smart phone maker to become CEO of a semiconductor company.
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Palm laid off about 10 percent of its work force this week to cut expenses, according to a person familiar with the situation.
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(InfoWorld) - Palm Inc. has lowered its financial forecast for the current quarter because of delays in bringing its latest Treo smartphone to market. Palm on Monday lowered its revenue forecast for its fiscal 2007 second quarter, which ends Dec. 1, to a range of US$390 million to $395 million from an estimate made Sept. 21 of $430 million to $450 million. It also pared its earnings forecast to a range of $0.10 to $0.11 per share from the earlier estimate of $0.15 to $0.18. Not counting special items, the estimate has been trimmed to $0.15 to $0.16 a share, from an earlier $0.20 to $0.23. Although its line of smartphones is selling well and the new Treo 750v introduced in Europe is popular, Palm hasn't been able to get the Treo 750 introduced in the U.S. as planned, according to the company. "Our Q2 FY07 revenue will be constrained by a delay in certification of a key product. We now expect to start shipping the Treo 750 for the U.S. market early in Q3 FY07," Palm President and Chief Executive Officer Ed Colligan said in a prepared statement. Palm (NASDAQ:PALM) waited until the market closed Monday to announce the news. After closing for the day at $15.37, about three hours later its stock had fallen by $0.64 in after-hours trading.
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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.
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Treo smartphone maker Palm Inc.  said on Monday it will sell a 25 percent stake to private equity firm Elevation Partners for $325 million, in a deal that adds a former Apple Inc. executive to its board.
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A new Palm Treo will be sold in Europe and South Africa for now that has a full keyboard, and runs Windows Mobile 6.
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TechWeb - 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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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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HELSINKI: Nokia said the respected head of its networks unit had resigned and another top networks official left in the second major departure of top management in two weeks at the world&#39;s largest mobile phone maker.
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A delay in the release of its newest Treo device prompted the first drop in sales at Palm Inc. in more than three years.
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Profits continue to drop despite strong sales of Palm's Treo smartphone.
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Smart phone inventor sells off big stake and shuffles its board in hopes of reinvigorating product lineup amid increasing competition.
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(InfoWorld) - Details of Palm's new smartphone are emerging ahead of the product's launch on Wednesday. According to details of a scanned advertisement from the Dutch subsidiary of The Phone Shop, which has appeared on numerous blogs, the product is called Palm Treo 500, itÂ uses a standard version of Microsoft's Windows Mobile 6.0 operating system, runs on 3G (third-generation) mobile phone networks, and will be sold byÂ Vodafone Group. Vodafone had an exclusive agreement for theÂ Palm Treo 750v. A source familiar with the launch confirmed details in the ad, including the name of the product, OS, and Vodafone as a carrier partner, but declined to provide further details ahead of the launch. The Treo 500 appears to be targeted at the consumer market and is equipped with the Windows Mobile 6 Standard OS, which doesn't support touch-screen functionality. The lack of this feature and possibly some others could mean that the new smartphone will be priced lower than the Palm Treo 750v, which at â¬500 ($689) has been targeted at business users. In an interview on Monday, Jens Schulte-Bokum, head of the global terminal division at Vodafone, declined to comment on whether Vodafone planned to offer the new Palm smartphone in addition to the Palm Treo 750v, saying only that the operator is "still in discussions with Palm to refresh that lineup." Â
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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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PalmOne Inc., the world&#39;s biggest maker of hand-held computers, unveiled a new model of its popular Treo smartphone, the combined mobile handset, camera and planner that sold more than 600,000 units in a year.
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The separation of PalmOne and PalmSource will be complete with Eric Benhamou's resignation as the latter's chairman.
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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.