In 2005, not one new smartphone was released from Palm. That will change in 2006, however, as Palm CEO Ed Colligan confirmed in a conference call yesterday about its 2Q earnings. "Achieving the eighth consecutive quarter of year-over-year double-digit revenue growth and growing our converged device market share to 36 percent in the United States are significant accomplishments," Ed Colligan said. "We'll roll out the Palm Treo 700w smartphone based on Microsoft's Windows Mobile, and we'll announce three additional new smartphones during calendar year 2006." That makes four Treo-type devices announced/released in 2006, with new looks and more advanced network support. Hopefully that means WiFi.
At the conference call, Palm announced that revenue was $444.6 million, up 18% from a year ago. Net income was $260.9 million, or $5.02 per diluted share. Net income reflected the effect of a partial reversal of a deferred tax asset valuation allowance of $226.3 million. This compares to net income for the second quarter of fiscal year 2005 of $24.7 million, or $0.48 per diluted share.
Click here for the full press release. You can discuss the news here. Looks like 2006 is going to be a busy year.
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