Palm swings to loss despite Centro sales

Palm posted a fiscal third quarter loss on declining revenue even though its low-cost Centro smartphone showed strong sales. Revenue for the quarter, which ended on February 28, dropped 24 percent, while smartphone sales spoked 13 percent. The company sold 833,000 smartphone devices thanks to strong demand for the Centro. Smartphone revenue was $275.4 million for the quarter.

Palm CEO Ed Colligan said that the "Centro is off to the strongest start of any smartphone in Palm's history." More than 70 percent of Centro owners traded up from a standard phone, according to Colligan.

For more on Palm's quarter:
- read this article from the WSJ (sub. req.)