It's a day of reckoning for Palm --which is set to release its earnings later today. The hand-held pioneer has seen its market share dwindle to almost nothing--with rivals like Research in Motion (they make the BlackBerry) now dominating the market. So what's ahead for Palm? Can it come back? Jon Fortt is Senior Editor at Business 2.0 magazine. He was on "Power Lunch" to go over the Palm record.
Forte says the company has suffered through ownership and management changes--and just now got back the rights to innovate the software for its hand-helds (it still doesn't own the rights). Forte says Palm must be creative and come up with some new and interesting products if it wants to remain a competitor. Forte says developers need to know if they even need to write up programs for Palm. Right now--they aren't sure according to Forte.
Anticipating the earnings report today--Forte said Palm has said recently it would disappoint analysts. But he also said if Palm just meets "diminished" expectations--that would be a victory of sorts.