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80,258 News Articles

Future bleak for Palm

Revenue down 44 percent on last year, axes 250

Things are looking ever worse for the erstwhile PDA (personal digital assistant) colossus Palm, with this year's losses a cool £25.3m in the last quarter.

Palm yesterday reported revenue of £201.1m for its fiscal second quarter of 2002, down 44 percent on the same period last year. Though this edges past analyst expectations, the loss compares unfavourably with the £19m profits of the same quarter last year.

The figures are slightly above Palm's own estimate late last month. The firm also announced at the time that it would lay off 250 employees.


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