Fri Sep 25, 2009 7:01 am
Verizon has scrapped plans to offer the Palm Pre smartphone after it had been scheduled to arrive in January, due to lower-than-expected sales from rival Sprint.
The Pre, which was released for Sprint in June, hasn't generated the kind of sales that some investors had anticipated -- forecasting revenues of $240 million to $270 million in the current quarter, missing the $305.9 million estimate from analysts.
The move is a reversal when Verizon CEO Lowell McAdam told investors the Pre was coming in six months back in May.
Now, the company has decided to abandoned the smartphone because it hasn't become a blockbuster seller for Sprint.
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