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Palm Quarterly Loss at $258 Million | |
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| Time: 04:09 EST/09:09 GMT | News Source: Associated Press | Posted By: Alex Harris | ||
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Handheld computer maker Palm Inc. reported a first-quarter loss slightly smaller than analysts' expectations Monday, as the company continues to struggle with competition from Microsoft-powered devices that are steadily threatening its market dominance. For the three months ended Aug. 30, Palm said it lost $258.7 million, or 45 cents per share. In the year-ago period, the Milpitas, Calif.-based company lost $32.4 million, or 6 cents per share. If not for separation and restructuring expenses, Palm said it would have lost 6 cents per share, less than the loss of 8 cents per share expected by analysts surveyed by Thomson First Call. The company recorded a non-cash charge of $219.1 million during the quarter to reduce the value of its deferred tax assets as part of the separation of its PalmSource Inc. unit. Palm reported revenues of $172.3 million for the first quarter, down 20 percent from revenue of $214.3 million in the same period of 2001. Analysts predicted Palm revenues of $178 million, according to First Call. | ||
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| #1 By 2960 (156.80.64.132) at 9/25/2002 8:55:20 AM |
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Frankly, I wish they were doing a LOT better.
The worse they do, the less pressure on Microsoft to improve the PocketPC platform... TL |
| #2 By 1295 (216.84.210.100) at 9/25/2002 9:08:35 AM |
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I agree TL,
Though lately I have felt that Palm was just cruising along it is nice to have MS targeting someone right now since this market is fairly new. Its too bad that Palm has refused to do much to retaliate against MS as a new competitor. This is going to turn into another Monopoly debate over the next couple of years with the same highlights present in the Netscape debate. Palm has done nearly nothing to counter attack MS's Pocket PC platform. Simply adding color to their screens and a couple of other features isn't going to cut it in the long run for Palm. And for those thinking that MS is using its Monopoly to push this along. MS has almost no way of using its Monopoly of the Operating System market to force and or limit choices in the Handheld market. They have fought this battle uphill from the start. They are moving strong, offering more features and applications as well as BETTER DEVELOPER SUPPORT! Developer support is where MS makes its biggest move. This is the same case for almost every single product they produce. It will be interesting to see what happens here. I just hope Palm can hold on long enough to make MS build a mature feature rich Handheld OS, though its already looking like they have. This post was edited by Mr.Humpty on Wednesday, September 25, 2002 at 09:10. |
| #3 By 6253 (12.237.219.240) at 9/25/2002 10:41:58 AM |
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#3, Palm will simply claim that ActiveSync uses some undocumented API (one which probably does something useless and ridiculous) and that the Pocket apps unfairly leverage their desktop versions (despite being entirely different code and treating their desktop brethren pretty much the same as Palm apps can).
Time for Palm to go whining to the courts. If they have to wait until AOL buys them out, all the good lawyers will be taken. |
| #4 By 20 (24.243.41.64) at 9/25/2002 11:38:17 AM |
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Yep, this is the same Netscape and Novell story over again.
- Company comes out with marginal product that fits a growing need - Company never really improves it, but continues to raise prices on it to bilk the consumers - Microsoft comes along and sees need for competition and starts developing a superior product and a reasonable price, with tons of features, and makes it easy for developers to write apps on it - Company still does nothing while MS errodes its market share - Eventually, Company is left with <10% of the market share, having never really improved its product or responded to competition - Company sues Microsoft for billions claiming anti-trust violations |
| #5 By 135 (209.180.28.6) at 9/25/2002 4:01:17 PM |
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Realist - I think the point that was obviously clarified in the appeals trial is that facts can be interpreted very differently when you hear the context and opposing point of view.
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| #6 By 2960 (156.80.64.132) at 9/25/2002 4:28:57 PM |
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#10,
I agree on both counts. For basic task management, contacts, appointsments, etc... the Palm is clearly a better choice. It's leaner, meaner, runs forever on batteries, and you can get one that gets the job done for less than $100. And, frankly, Sony is really pushing the envelope with their Palm based units. You're right about the price, too. PocketPC's are overpriced. I just bought a new Compaq (or is it HP? Who the hell knows anymore) 3835 last week. Normally they are $550-$600. I got it at CUSA for $349 after rebates. That's a reasonable price for what I got. They are back up to over $500 now (but can be found cheaper I have no doubt). The Palms still have some advantages, but the PocketPC 2002 units are clearly superior in overall capability. I just wish the damned programs would quit when you close them. What a stupid design decision! TL |
| #7 By 3653 (63.162.177.140) at 9/25/2002 5:31:13 PM |
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TechLarry, I swear... I bought a PocketPC 3835 just 2 days ago from CompUSA and paid $204 shipped free. Go to http://www.techbargains.com/ and you'll see how. There are FOUR $50 mail-in rebates and there was a 10% compusa coupon that day, with free shipping. I couldn't resist, as it was even cheaper than the Toshiba 310e.
I agree with others, that Sony is doing a helluva job with their PDA hardware. I just wish they would get a PocketPC license. I think they would give Compaq a real run for our money. Palm (both companies) is in a tailspin. I, personally, don't think they can recover. MS has been allowed (by Palm) to build up enough momentum that I don't think they can be stopped. The story of Palm is another awesome example of MS playing for the longterm gain. MS was patient and steadily improved their product... as Palm stood basically still for 1.5 years. I hope their 5.0 operating system is good, but I fear it won't really matter. Their death is unavoidable, I think. PocketPC are finally moving in quantities that encourage a low cost (ask Dell!). And COST is the final differentiator for Palm. Without it, they are gone. |
| #8 By 135 (208.50.201.48) at 9/26/2002 12:13:21 AM |
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For what it's worth... Palm is supposedly going to introduce a new model in the next several months to compete against PocketPC.
I don't know if it will work or not. Palm is interesting in that they kind of lucked out and hit the right combo of functions at just the right time. For 10 years previous there had been other attempts from HP 100LX, Apple Newton, Sharp Wizard, even Atari had a handheld organizer at one time. I think what made Palm successful was actually Outlook, and the ability to sync up against it for calendar and contact info. That was the only thing to differentiate themselves from the competition, and they didn't really capitalize on it very well. I think they essentially wanted to deny their success was due to Microsoft. |
| #9 By 3653 (63.162.177.140) at 9/26/2002 10:02:00 AM |
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JWM - "Doesn't it have tighter integration to Windows than the Palm does?"
Palm would tell you it doesn't. Again, a sign of their denial of the reality of the marketplace. I would say MOST ASSUREDLY YES, it has tighter integration. However, that does not equate with abuse of monopoly power. They are two seperate things. Palm has the complete ability to make their PDA even more Windows compatible than PocketPC... to the core, tight as a tick. Nothing, but their own decisions, prevent that from happening. PocketPC's tight integration can be boiled down to the ability to open/save Office docs and their ActiveSync app. Both of which are easily duplicated and have been by third-party Palm makers. The problem is, that that third-party software cost must be added onto the purchase of a Palm. This post was edited by mooresa56 on Thursday, September 26, 2002 at 10:03. |
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