Palm remains confident

Palm has sent out a defiant message countering recent Gartner Group predictions, after announcing revenues of $165.3 million for the fourth quarter of 2001. The PDA vendor shipped 6.4 million Palm handhelds during fiscal year 2001.

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By  Zoe Moleshead Published  June 27, 2001

Palm has sent out a defiant message countering recent Gartner Group predictions, after announcing revenues of $165.3 million for the fourth quarter of 2001. The PDA vendor shipped 6.4 million Palm handhelds during fiscal year 2001.

Palm’s CEO, Carl Yankowski, said the vendor’s results were in spite of the economic slowdown in the US, and he claimed the company had “exited the quarter a leaner and more focused organisation.”

“There was a 47% increase in year-over-year revenue, a 75% increase in shipments, and an increase of about 105% in the number of registered developers of our OS,” added Yankowski.

Palm’s CEO also revealed that the company invested $160 million in research and development (R & D) over 2001, enabling the vendor to refresh its product line.

“Our R & D investment resulted in 196 US patent applications in fiscal 2001, three times the prior year,” said Yankowski.

A recent Gartner report predicted Palm would struggle in the PDA market, up against Compaq’s iPAQ, and register hardware revenues of $130-135 million.

Area manager for Palm Middle East, Stuart Maughan hit back at Gartner claims saying, “Palm is not in the trouble Gartner Group is suggesting, and certainly it is not accurate on other points about our offering of high-end features, as we offer all the features and much more through our developer community.”

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