Palm posts dismal losses, job cuts on the way

Story posted on: December 19, 2007. Filed in: palm.

Palm has posted some financial information showing that they lost $9.6 million in the financial period ending on November 30th. Palm has faced some extreme competition in the smartphone market, causing sales to dwindle to their lowest on record.

Despite their attempt at regaining some ground, with their line of Centro devices, Palm reports that this quarter isn't looking any better. They expect a $7 million to $10 million loss this time around as well. The result? Major job cuts and perhaps even the loss of more services.

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