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Slow smartphone sales hit Palm

Slow smartphone sales hit Palm

Beleaguered smartphone maker Palm has posted a loss of £14.6 million for the third quarter, amid worse than anticipated sales for its handsets.

News of the below-par showing for the period prompted a 25 per cent slide in the company's share price, which fell below £3.50 per share for the first time since the arrival of the Palm Pre back in early 2009.

Various stock market analysts have urged stockholders to sell their equities in Palm before they fall any lower.

However, others have been notably less convinced that the recent announcement means that Palm is on a permanent spiral downwards.

Although Palm's performance since the launch of the Pre has not lived up to the comeback that many had predicted, a spokesperson said that the firm was "looking forward to upcoming launches with new carrier partners".

Palm Chief Executive Officer Jon Rubinstein spoke out in support of his firm last week, saying that release schedule mix-ups lessened the Pre's initial impact and allowed the Motorola Milestone to steal market share.

Mr Rubinstein said: "I believe that we have a better product, I think we would have even done better."

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