Palm issues warning of 11 percent share fall for 3rd quarter sales

Palm has announced a warning of weaker than anticipated quarterly revenue which is due to less demand for Palm’s older mobile phones along with a weaker economy and that the United states shipments of the Palm Treo Pro was late, this has had an effect of sending down shares eleven percent in extended trade.

Palm has stated they are looking for ways to bolster their capital position while aiming to strike at rival mobile companies such as Research In Motion’s BlackBerry and Apple’s Apple iPhone.

Palm has said after preliminary results for their fiscal 3rd quarter ended 27th of February that they expect revenue to drop to a range of $85 million as opposed to the $90 million first expected.

Source — Reuters

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