The U.S. smartphone maker Palm has reported a loss of $841,000 in the quarter ending August of 2007. Faced with recent competition from Apple and Blackberry, sales of the company's smartphones took a beating.
A quote from the article at Bloomberg:
Palm stepped up product development and marketing after trailing Research In Motion Ltd., maker of the BlackBerry, in updating its designs. The company also faces competition from Apple Inc.'s iPhone and e-mail phones from Motorola Inc. and Nokia Oyj. Until new Palm products appear, the company may continue to lose sales, analysts say.
It was only very recently that Palm announced its Centro, a lightweight and cost-effective device, as compared to its withdrawn Foleo devices and Treo systems.
Palm's plunge only goes to show how important innovation and design are in the gadget industry, where once Palm was a pioneer.
More news links:
Palm posts loss for Q1 (Register)