Palm shares drop on expected sales shortfall

Just yesterday morning Palm was flying high on news that Sprint Nextel plans to offer the Treo 700wx smartphone that supports EV-DO and runs on Microsoft Windows Mobile 5.0. Last night, the company's shares fell about 12 percent as the company warned that sales of its Treo devices are slowing. Palm expects quarterly sales of between $354 million and $356 million, lower than its sales goal of $380 million to $385 million for the period that ended September 1st. "We will soon address the market dynamics responsible for our first-quarter revenue shortfall with two major new product launches, one that improves our pricing position and both which extend our carrier relationships throughout the global markets," said Palm Chief Executive Ed Colligan.

For more about Palm's sales shortfall:
- check out this article from Dow Jones

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