What’s the opposite of a product that ‘sells like hotcakes’? A Palm Treo, apparently.
The latest dose of bad news? Revenue for Palm’s second fiscal quarter, which ended last week, will be just $190 million to $195 million, the company announced Monday ahead of its December 18th conference call. Wall Street analysts had been expecting Palm to record $331 million in revenue, an astonishing 41 percent gap caused by “reduced demand for maturing smartphone and handheld products,” Palm said in a press release.
Oh, how the times have changed and the mighty have fallen.
In 2006, readers might remember that Palm CEO Ed Colligan openly scoffed at the notion that Apple would have any success in the mobile phone market. When asked by the New York Times if he was worried about the iPhone, Colligan laughed and said:
“We’ve learned and struggled for a few years here figuring out how to make a decent phone.PC guys are not going to just figure this out. They’re not going to just walk in.”