Palm posts lower-than-expected revenues

Palm, beset by falling sales as it struggles in the smartphone market, released its revenue numbers ahead of its second fiscal quarter results, posting between $190 million and $195 million, well below Wall Street expectations.

The handset maker, which has been banking on sales of its Centro and Treo smartphones, said 'reduced demand for maturing smartphone and handheld products' was contributing to the decline in revenues. Expectations had been for revenues to be around $331 million for the quarter--a 41 percent gap.

The Centro, while not nearly as flashy as Apple's iPhone or some Research In Motion products, only costs $99 and the company announced over the summer that it had sold 2 million units.

Palm plans on planning on releasing its Nova OS in the first half of 2009, but its financial condition is precarious.

For more: see this article

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