Palm Closing All But One of its Retail Stores
January 28, 2008 10:32 AM | Palm | Smartphone | Comments (0)
| Smartphone manufacturer Palm Inc. announced that they will be closing all but one of its retail stores over the next five weeks. Palm wants to continue cutting costs and focus on its next-generation Smartphone platform. Palm has 8 stores in California and 26 “stores within a store” at major metropolitan airports around the country. The company plans to maintain the Palm store within its own corporate headquarters in Sunnyvale, Calif. Palm will continue to sell its handsets through carrier stores, resellers and other retail and online channels, including its own Web site. The closings are slated to be complete during Palm’s fiscal third quarter, which ends in late February. Last December Palm cut an undisclosed number of jobs at the 1,200 employee company and last September unexpectedly cancelled its Foleo product, a keyboard-and-monitor accessory. |  |
Last June, the Treo maker also made job cuts shortly after attracting a $325 million infusion of private equity and raising an additional $400 million in new debt, while adding two former Apple Inc. executives to its board.
