Sprint affirms Palm Pre exclusivity “through 2009”

by Darren Murph, Engadget


Ready for your daily dose of obvious? Good. After Verizon Wireless CEO Lowell McAdam proudly proclaimed that America’s largest mobile operator would be painting the Palm Pre red “in about six months,” Sprint has come forward to make sure we know that said statement is probably right on the money. According to Sprint spokesman James Fisher: “We have the Pre through 2009.” Short, sweet and chock full of pent-up rage. ‘Course, six months after the Pre’s launch on Sprint lands us in December, giving VZW just enough time to cripple the phone’s hottest features and push it out before Valentine’s Day. Sounds pretty reasonable, no?

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Palm Treo Pro available today from Sprint

By Chris, Mobilewhack


It looks like Sprint is really hot today. We’ve seen the Rumor 2 and the Moto i9 which were officially released today and they got a decent companion, the Palm Treo Pro.

The Treo Pro will be available to you starting today for $299.99 before a $100 mail-in rebate but only with an Everything Plan or data plan of $30 or more. What do you think? Is it worth getting the Treo Pro today when the Pre is coming this summer?

Telefonica to Bring the Pre to Europe and Latin America

By Chris, Mobilewhack


We don’t have all the details yet but it looks like Telefonica has scored the deal of the year with Palm. The Spanish carrier will bring the Pre to Spain this year but the deal doesn’t stop there. The carrier also operates in the UK as O2 and in Latin America as Movistar. That means Telefonica will have quite a market to sell the Pre to. What say you Vodafone? Are you going to get the Pre too?

Palm betting on Palm Pre as savior

By Will Park, Intomobile.com


Maybe “savior” is a bit much. Palm (NSDQ: PALM) still has a loyal following of Treo-fans that will support Palm to the end. But there’s no denying that Palm needs a fantastically successful handset to rescue them from the depths of financial ruin. Palm’s financial standing has been rocky of late, what with their declining market share and bleeding bottom line.

Perhaps Palm does need a savior. Will the Palm Pre be enough?

Palm faces an uphill battle, following an announcement that has Palm expecting third quarter revenue of $85 million to $90 million, which falls well short of Wall Street’s $150 million projections. Palm has ironically cannibalized its own Treo and Centro sales with all the hype generated around the Palm Pre, giving many potential Treo buyers reason to wait out the remaining few months until the Palm Pre goes live on Sprint (NYSE: S). Unfortunately, recent financial hardships have left Palm in a less-than-optimal position to weather disappointing financial performance. Palm only has $215 – $220 million in cash reserves to keep its daily operations running, and expects operational costs to run between $95 million and $100 million in the third quarter. Clearly, Palm is running out of cash.

To help give the company a little more wiggle room, Palm today made 18.5 million shares of Palm stock publicly available. The move injects a cool $49 million into Palm’s corporate coffers, an effort aimed to give Palm the wherewithal to turn the Palm Pre into the rejuvenating success that Palm desperately needs it to be. Elevation Partners, Palm’s heaviest investor, also benefits from the deal with an option to buy the newly available stock.

With cash reserves dwindling, and selling off its own positions to help cover operational costs, it’s clear that Palm is banking on the Palm Pre to rescue the company’s bottom line. The Palm Pre has been hyped since early this year, and the public has responded quite well. Packed with the high-tech hardware that appeals to geeks and powered by the sleek and intuitive touch-based WebOS, the Palm Pre may have what it takes to revive Palm. But, will that savior come in time?

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Palm Needs $49 Million for the Pre Project

By Chris, Mobilewhack.com


Palm seems mentally ready to launch the Pre, but does it have all that much needed money to fund the Pre project? Palm has just decided to remarket around 18.5 million common shares which underlie preferred stock and warrants that Elevation Partners bought back in January.

If everything goes well, Palm will get $49 million, more than plenty “to further bolster the resources Palm is devoting to the launch of the Palm Pre and future product-development efforts.” Elevation Partners will also get $49 million, exactly the price it initially paid for the same shares. Let’s hope the Pre is worth all that money then! We wouldn’t want to see Palm taken out of the cellphone business by a promising handset that failed to confirm.

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