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Palm Pre Sales Tumble After 3GS Release

14.08.09

Palm's coming seems to be even bleaker as an analyst told investors that he forecasts that the crowd of Pre sold in July would be around 100,000.

Analysts are known to be rather unreliable but Ilya Grozovsky's note to Morgan Joseph investors could source the company's shares price to drop significantly.

The slues of Pre sold in June is said to have dropped to 200,000 with August numbers expected to be significantly worse.

In the past, Grozovsky estimated that Palm would be selling around 400,000 Pre's in the three months ending August. It is now strongly unlikely that this number will be reached.

Grozovsky reckons that Palm and its partners will shortage to slash the price of the smartphone to revive sluggish sales as the fete season approaches.

In addition, Ashok Kumar, of monetary advisory group Collins Steward, has downgraded Palm stocks afte fears that less than 300,000 handsets were sold in May and June.

Pre making is expected to fall by as much half a million units over the next four months. The give someone the sack decline in sales could partly be blamed on the success of Apple's new iPhone 3GS handset which was launched back in June 2009.

Source: ITProPortal