Palm Suffers Disappointing Sales Figures
Palm's Pre was announced to much hype and anticipation last year, with some even dubbing it the "iPhone-killer". However, it has been anything but the iPhone-killer some expected it to be. In fact, sales for last quarter was a miserly 408,000 units. In comparison, Apple is expected to ship some 7.5 million, whereas the numbers for Android devices is estimated to be around 5 million.
Business Insider - Specifically, Palm's smartphone sellthrough was just 408,000 units last quarter, down 29% q/q and down 15% y/y. This is worse than expected -- remember, a year ago, the Pre wasn't even on the market yet. Mike Abramsky of RBC was expecting 650,000 units, for instance.
Worrying times indeed for Palm, who, according to the report, is fortunately still sitting on at least half a billion in cash available to burn. To read the original article, click here.