More Videos
- My Top 10 Tech Toys for the Holidays
- iPhone a Better Gaming Platform Than Android?
- Dell Has Some Explaining to Do
- Dell May Start to Show Some Promise
- Has Twitter's Finest Hours (Seconds) Come and Gone?
- Intel's Andy Bryant Offers An Explanation
- Apple's Global Retail Invasion
- Intel Settles; AMD Settles the Score
- HP's Shot Across Cisco's Bow
- Back Off, Regulators!
MOST SHARED
- Nielsen Ratings Coming to Video Games
- Oil Next Week
- The Week Ahead
- Time Lapse World Series Is A Great Play
- Hershey Mulls $17 Billion Bid for Cadbury: Source
- Hot Topics at TEDMED
- Realty Check: USDA Home Loans
- Bove: Expect Goldman To Increase Dividend Meaningfully
- 'New Moon' Midnight Showings Earn Record $26.3 Million
- How Stock Investors Can Play Holiday Travel
- Time Lapse World Series Is A Great Play
- Hirschhorn: Greed...or Fear
- My Top 10 Tech Toys for the Holidays
- iPhone a Better Gaming Platform Than Android?
- May Day For Dendreon
- 100% Mortgage Financing From USDA
- Holiday Tipping: Who And How Much
- Deep Discounts Should Make It a Very Tech-y Holiday
- Credit Markets on Edge About When Fed Will Raise Rates
- Bove: Expect Goldman To Increase Dividend Meaningfully
- Bullish Sign for Gold: Central Banks Are Big Buyers
- Victoria's Secret Hopes to Rekindle Desire for Lingerie
- High Roller Sues Harrah's for Lost Millions
- Wall Street Jobs Slow to Return Despite Record Profits
- Big Shareholders Ask Goldman to Cut Bonuses: Report
- Buying an Expensive House? Government Can Help
- Review: What It's Like to Drive the New Chevy Volt
RSS FEED
Tech Check
Text Size 
 |
Palm [PALM
Loading...
()
] aims to change all that. A tall order to be sure, but consider--as Palm CEO Ed Colligan does--that well over a billion handsets will sell globally this year, but only a small percentage of them are web-enabled, media devices called smartphones, that "tall order" is certainly worth some effort.
Palm is no stranger to tall orders. A year or so ago, Palm was on the ropes, Colligan's job was in jeopardy, there was talk of a tie-up with Motorola [MOT
Loading...
()
] before that company's own implosion, and Palm's future looked bleak.
Very bleak.
But that was before Centro: Palm's $99 little wonder that, as it gains traction in the marketplace, could someday mean a more formidable competitor to the likes of Apple [AAPL
Loading...
()
] and RIMM [RIMM
Loading...
()
]. Oh, and Nokia.[NOK
Loading...
()
] Palm is celebrating the two-millionth Centro sold on Tuesday, selling its second million units in half the time it took to sell the first million. Colligan, in my exclusive interview with him, calls that "momentum."
Look, before you go howling that this stock has largely gone nowhere, and that some well-known Wall Street analysts are calling for Colligan's head, consider that the company was up front a year ago that this would be a year of "transition." Wall Street isn't the most patient place in the world, but Palm can afford now to breathe a little easier.
Elevation Partners snapped up a big chunk of the company (amid rumors that it would snap up even more to take Palm private); Fidelity and T. Rowe Price are also major investors. But it was the Elevation deal that gave Palm some breathing room. That and the ongoing vote of confidence from Elevation's partner Roger McNamee, and the continuing influence of former Apple iPod wizard Jon Rubinstein, who's wielding enormous influence at Palm.
Listen to Colligan talk: he's got a confidence about him and his strategy that seemed far thinner a year ago. But here he is today, singing much the same tune as before, but it's far more believable this time around. Something about those two million Centros sold in fairly short order and that momentum thing, I suppose.
But Colligan isn't operating under any illusions: he knows he still has his work cut out for him, and admits to me that the job is far from over. He knows Palm isn't out of the woods yet, but now sees the light shining through those trees. He's one of the few CEOs I've talked to who appreciates the quarter-to-quarter pressure of Wall Street, telling me it helps keep him and his company focused on task. Though the deal with Elevation gives him a deeper level of patience he's probably seen from investors past.
So when in doubt, compete. And when you can't compete, create a new category. The sub-$100 smartphone. BlackBerry and iPhone will eventually get there. How long "eventually" takes will ultimately determine whether Colligan and team are crazy? Or crazy like a fox?
(Watch my complete interview with Colligan and let me know what you think. Does Palm stand any kind of chance? Or no chance at all?)
Questions? Comments?
Data is a real-time snapshot *Data is delayed at least 15 minutes