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Devices/smartphones

Palm Reports $105M Q4 Loss

Palm Inc. reported a loss of $105 million for its fiscal fourth quarter, but it does have some reasons to be optimistic.

The company can take some solace in the fact that its eighth-consecutive quarterly loss was not as bad as many analysts has predicted. It may take further comfort from knowing that the quarter did not include the launch of the highly-anticipated Pre smartphone. Palm has essentially bet its future on the success of the Pre and the webOS operating system.

"The launch of Palm webOS and Palm Pre was a major milestone in Palm's transformation," said Jon Rubinstein, Palm's CEO, in a statement. "We have now officially reentered the race. We have more to accomplish, but the groundwork is laid for a very promising future here at Palm."

For the quarter, Palm sold 351,000 smartphones which accounted for about $86.8 million in revenues. It was a tough period for the company to sell devices such as the Treo Pro because potential buyers were likely waiting for the Pre to be released. In the three weeks since its launch, analysts estimate the Pre has sold more than 150,000 units. It is only available on Sprint Corp. (NYSE: S)'s network.

Read the rest at InformationWeek.

– Marin Perez, InformationWeek

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