BBC Homepage World Service Education
BBC Homepagelow graphics version | feedback | help
BBC News Online
 You are in: Business
Front Page 
World 
UK 
UK Politics 
Business 
Market Data 
Economy 
Companies 
E-Commerce 
Your Money 
Business Basics 
Sci/Tech 
Health 
Education 
Entertainment 
Talking Point 
In Depth 
AudioVideo 

Wednesday, 7 March, 2001, 12:49 GMT
New product turns Palm around
Palm's multi-coloured new model
The new model has a bigger memory and more colours
Shares in Palm soared almost 12% in a day, after it unveiled a new improved handheld computer.

The latest model boasts four times as much memory than the m100 model released last year.

It will let Palm users with compatible mobile phones send e-mails, search the internet and chat online.

The news boosted investor confidence in the US firm, and the share price rose almost 12% after having slumped from over $66 in November to $17.3 at the beginning of the week.

The new model will be priced $50 higher than its predecessor, at about $199 (136) and will target a more upmarket niche than some of its cheaper competitors.

The company's hope is that the product will cash in on the growing convergence between mobile telephony and computing.

Multi-coloured attraction

Other customer-enticing features will include a variety of multi-coloured plastic covers, and a cradle rather than a cable to download information from traditional personal computers.

The company says that demand for its products in both US and international markets is expected to remain "strong" as consumers' preference has shifted from home computers to handheld devices.

But the fate of UK handheld computer firm Psion has been very different.

Shattered confidence

Psion's share price took a 20% hit last week, after announcing poor fourth quarter results, and abandoning plans to launch the world's first mobile phone-cum-organiser.

Palm's share price rose 11.91% during the day, closing at $19.375 and hitting a high of $20 during the day's trading.

The firm is listed on he high technology Nasdaq index, which has been heavily sold down during the year, after investor confidence in the returns on technology shares was shattered.

Palm was spun off from parent company 3Com in 1999.

Search BBC News Online

Advanced search options
Launch console
BBC RADIO NEWS
BBC ONE TV NEWS
WORLD NEWS SUMMARY
PROGRAMMES GUIDE
See also:

04 Dec 00 | Business
3Com warns on profits
27 Oct 00 | Business
Psion warns on profits
13 Jul 00 | Sci/Tech
Sony holds up its palms
16 Jul 00 | Business
Computers anywhere and everywhere
21 Dec 00 | Business
Palm sales double
Internet links:


The BBC is not responsible for the content of external internet sites

Links to more Business stories are at the foot of the page.


E-mail this story to a friend

Links to more Business stories