Palm takes $25M write-down, $57M loss

Palm revised the warning it gave at the end of February which alerted investors to a $31.5 million loss: Now the company has recorded a $57 million loss for the company's third quarter. The revised loss follows a $25 million write-down for auction-rate securities that lost value since the collapse of the debt market earlier this year. Palm said last week that it had sold a million Centros in the U.S. since it introduced it last September.

For more on Palm's financial woes:
- read this NYTimes article about Palm's $57 million loss

Suggested Articles

"Innovation in Unprecedented Times" felt like an appropriate opening keynote session to the GSMA's Thrive virtual conference.

The RWA is asking the FCC to give members enough time to submit waivers.

Dish Network announced it has completed the $1.4 billion acquisition of Boost Mobile.