Palm’s Centro Leads Shares (PALM, S, VZ)
Palm, Inc. (NASDAQ: PALM) has not been without its problems. But there seems to be a saving grace here with strong unit sales. The Palm Centro has now reached its 2-millionth unit sold. It seems that the market place’s desire…
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Palm, Inc. (NASDAQ: PALM) has not been without its problems. But there seems to be a saving grace here with strong unit sales. The Palm Centro has now reached its 2-millionth unit sold. It seems that the market place’s desire to get smartphones is adding to the love, particularly for the $99.00 price tag for a strapped consumer in a tough economy.
The Centro is also now in 25 countries. At first this was exclusive to Sprint Nextel (NYSE: S), but over the last two or three weeks it has become available for sale via Verizon (NYSE: VZ) as well.
On a personal note, I just switched from my bulky original Palmsmartphone last week to the new Centro rather than the larger Palmsmartphones. I haven’t yet decided if it is going to be perfect orentirely appropriate for some of my own needs, and I haven’t decided ifI will keep this for the long haul or not. There are limitations and while the size reduction is great it will pose as a barrier to many users.
But what is more than obvious is that the Centro smartphone offers anincredible entry price for a cash strapped public in a softeningeconomy. Shares are up almost 10% at $6.30 after about 45 minutes oftrading and we’ve seen 1.3 million shares trade hands.
JON C. OGG
JULY 29, 2008
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