|
24/7 Wall St. names Palm one of the ten biggest tech failures of the decade5 S# A/ R# N* ~9 @* R [5 o
By Derek Kessler | Friday, May 15, 2009 | 30 comments » # l7 l) f' j, y
' a) _9 ^- G% J6 H5 X1 sThe year was September 2005. Palm was riding high, having sold close to 500,000 Treo smartphones the preceding quarter. The dominated the fledgling consumer smartphone market, and were putting up stiff competition against Research in Motion’s BlackBerry line. Fast forward two years to September 2007: Palm’s sales were up to 689,000 units for the quarter, but RIM had moved 3.2 million BlackBerries worldwide and Apple had just introduced their iPhone to the tune of one million sold on AT&T alone. A year later, they’d move that many of the next generation in three days.
) b, P" r8 M% i: eUp until recently, things had been looking pretty bad for Palm. Delays, aging software, and shrinking marketshare made it look like Palm was about to sink into oblivion. Back in 2000, Palm stock traded at an ungodly $669/share (adjusting for splits and dividends), today it’s at just over $11 (up from a low of a pitiful $1.14 last December).
1 l# J+ [6 n, O" c1 H3 k
% J* {/ Q8 P( D- h+ |# t0 I& o7 ~( OWhile the past nine years have had Palm stock suffering a decline of 98%, Apple is up 282% while RIM is up 188%. |
|