Tech and Web NEWS
No Palm Pre for Verizon Wireless
By Amarendra Bhushan for CEOWORLD Magazine Updated:September 25, 2009
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Palm Inc., maker of the Pre smart phone, reiterated its plan to work with additional wireless carriers.
TheStreet.com reported that Verizon Wireless scrapped plans to sell the Pre, sending Palm shares down 4.7 percent yesterday. Derick Mains, a spokesman for Palm, declined to say if the statement was in response to the report, saying Palm doesn’t comment on rumor or speculation.
Palm, which currently offers the Pre exclusively through Sprint Nextel Corp., said last week that it would distribute its devices through other carriers in the second half, without saying which ones. Verizon, the biggest U.S. wireless carrier, had said in May that it planned to offer the Pre after Sprint’s exclusive contract ends.
TheStreet.com, citing unidentified people close to the talks, said yesterday that Verizon abandoned a plan to offer the Pre in January because the phone hasn’t become a blockbuster seller. Jim Gerace.
Sprint replied by saying it held exclusive rights to the Pre through 2009, which left most with the impression that the handset would be available via Verizon in January 2010. Palm’s CEO Jon Rubinstein recently fueled that anticipation when he said the handset was expected to appear on other networks very soon. Citing “people close to the discussions,” TheStreet.com is now reporting that Verizon has decided not to back the Pre.
According to the sources, Verizon’s change of heart is based on several factors, including the Pre’s mediocre sales. Another is that Verizon wants its VCast application and download store to be featured on the smartphone, which would be in direct conflict with Palm’s app store. The sources also say that Verizon wants to focus its support on new devices from Research In Motion and Motorola’s Android effort.
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