Palm Shares Free Fall, Bleak Future Ahead?

Palm has just announced that its smartphone sales for 2010 are likely to fall short of the projected targets. Palm has been under severe pressure since last year and has not been able to withstand the growing competition posed by Blackberry and iPhone.

Similarly, webOS which was touted by Palm to be a game changing mobile operating system has rather fallen flat at its back when compared to iPhone OS, Android and Symbian. Following this warning from Palm, the company’s shares took a free fall and experienced a sharp drop of nearly 17%.

If Palm does indeed sink, it would be a tame end for a company which was amongst the first pioneers of mobile industry. There are further speculations that Verizon Wireless may drop Palm Pre and Palm Plus this year due to plummeting sales. If anything, this would be the final nail in Palm’s coffin.

A reversal of fortune for Palm would be nothing sort of a miracle. It’s a matter of time before it gets snapped up by one of the biggies!

Ruk Cooray is Co-Founder of you can find him on twitter here rambling about something or the other

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