Palm cuts forecast on Treo delay
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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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Palm Inc., whose Treo smart phone is facing increasing competition from Apple Inc., Nokia Corp. and other offerings, said Wednesday it may see a small loss or break even in its fiscal first quarter.
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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.
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PalmOne is aiming to sharpen up its image with the launch of the Treo 650 on Monday. As previously reported, the smart phone update has a higher-resolution screen and a faster processor than the previous top-of-the-line model, the Treo 600.
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DALLAS -- Texas Instruments Inc., the leading maker of chips for cell phones, cut its profit and revenue forecast for the fourth quarter on Monday due to slower sales of semiconductors, and it warned that sales could weaken further early next year.
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(InfoWorld) - Palm denied a recent industry report that its new Foleo mini-notebook would be delayed and said the device was still on target to launch in the U.S. "this summer," or by the end of the third quarter. The company was responding to a report suggesting that bugs in Foleo's software will delay the launch of the device from the end of August to as late as early October. The software bugs are preventing Foleo from correctly synchronizing data with Palm's Treo smartphone, according to a report posted Wednesday on Barron's Tech Trader Daily blog. The report was based on an earlier research note by a Deutsche Bank analyst. Palm unveiled Foleo in May, calling it a 2.5-pound "smartphone companion." The device will initially only be able to sync up with Palm's own Treo smartphones. Foleo allows users to read their office documents more easily on its 10-inch display than on a cramped smartphone screen and type e-mail messages more easily on its full keyboard than on a thumb-operated keypad. Palm insisted on Friday that it was still on track to meet its original shipping schedule for Foleo. "As stated on May 30, U.S. availability for the Palm Foleo mobile companion will begin this summer. We will let you know if this changes," said Jim Christensen, Palm's director of communications. Regardless of when Palm begins to sell the Foleo, any delays to the new product will not have a major impact on company earnings, one analyst said. "This is a minor glitch. If they're a year late, it's a problem, but if they're a couple months late, it's not going to make any difference -- all their money's in the Treos," said Jack Gold, principal analyst at J.Gold Associates. "I'd be more concerned if their new phones were late; then we'd be talking about tens of millions of dollars. But at best it's [Foleo's] going to be a slow burn for them; this thing's not going to take off," said Gold. Even strong sales of its Treo smartphone may not be enough for Palm. On June 28, the company reported a profit of $15.4 million for the fourth quarter,Â a 44 percent drop from its profit a year earlier. In recent years, Palm has been shifting its product portfolio away from PDAs, a market it pioneered, and towards smartphones, which offer potentially much greater profit margins because of their higher price tags. The Foleo represents another step toward larger, more expensive products. But industry skeptics are dubious about its prospects, saying that smartphone owners may be hesitant to carry a second device in their pockets or to pay $499 for Foleo to make existing features easier to use.
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SAN FRANCISCO--Those wanting to get their hands on a Treo 650 this year will need to sign up for service from Sprint PCS. Sprint has cornered the market for this year, scooping up all of PalmOne&#39;s capacity until sometime in 2005.
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(InfoWorld) - Smartphone maker Palm Inc. is consulting with investment bankers on its strategic options, including the prospect of selling the company, seeking investment from venture capitalists, or making an acquisition of its own, according to a report in the The Wall Street Journal. Beset with growing competition in the smartphone market, Palm is discussing a range of options with bankers at Morgan Stanley, the newspaper reported, citing unnamed sources familiar with the discussions. WidespreadÂ speculation that Palm is likely to be acquired by another company sent the company's shares higher last week, rising nearly 13 percent during the week to close at US$18.30 last Friday. A Palm spokeswoman in Singapore could not immediately be reached for comment on the report. Palm, which sells the popular Treo smartphone, has a loyal customer base but the company faces increasingly tough competition from a range of competitors, such as BlackBerry-maker Research In Motion Ltd. (RIM) and Taiwan's High Tech Computer Corp. (HTC), the world's largest maker of Windows Mobile handsets. HTC sells some of those handsets under its own brands, but most are made under contract for handset vendors and operators, which sell them under their own brands -- often competing head-to-head against the Treo. Analysts last week said a private sale could help Palm, shielding the company from quarterly scrutiny of its numbers and freeing up the company's management to make acquisitions necessary to boost the technology used in its smartphones. Â
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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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(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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Cut down Treo Palm has, as expected, announced its Centro smartphone with US carrier Sprint, though the new-design handset won't go on sale until the middle of October.â¦
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Texas Instruments Inc. (TXN.N: Quote, Profile, Research) , the largest maker of chips for cell phones, trimmed its third-quarter revenue outlook on Wednesday as customers
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PalmSource Inc. shares slipped more than 9 percent in Monday trading after an analyst downgraded the company on concerns that its future sales could be decimated if sister firm palmOne Inc.
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Motorola Inc  on Wednesday forecast a loss for the current quarter, saying a recovery in its mobile devices business would take longer than expected.
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Handheld computer and phone maker Palm  Inc.  is to unveil the latest version of its Treo smart  phone next month as it attempts to revive sales hit by tough  competition and problems with previous models.
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Record sales, but numbers still down Palm is still losing money, despite the Centro selling in record numbers (for Palm). The company lost $9.6m in the three months to 30 November, on revenues which are down 11 per cent on last year to $349 million.â¦
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World&#39;s top maker of chips used in cell phones lowers sales target but raises earnings guidance. NEW YORK (CNN/Money) - Texas Instruments cut its sales forecast for the third quarter Tuesday but raised its