Palm Hoping to Win Market Share with Palm Pre
The smartphone maker Palm has announced financial results for the fiscal first quarter, once again, a tough period for the company.
The company has invested in a huge marketing budget and marketing of Pre to steal some market share to rivals iPhone and BlackBerry.
Palm’s net loss increased to the $ 164.5 million or $ 1.17 per share, a rate which exceeds $ 41.9 millions or $ 0.39 per share deficit recorded a year ago.
Palm Q1 estimates that its smartphones sold about 823,000, but has not specified how many are for the new Palm Pre, and that sales totaled 360.7 million dollars.
The company’s CEO, Joe Rubinstein, said that the losses to a further increase in expenditure during this period for the marketing and marketing your device Pre, the phone waiting to steal market share from rivals iPhone and Blackberry.
“I do not know where we are in this change,” said Peter Misek, an analyst with Canaccord in Toronto, who recommended selling shares of Canadian investors. “They’re still losing money and the next quarter will be horrible.”