Analyst says 150,000 Palm Pre units sold to date; expects $99 model by end of fiscal year

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Analyst says 150,000 Palm Pre units sold to date; expects $99 model by end of fiscal year
With Palm expected to release their latest earnings report tomorrow, RBC Capital analyst Mike Abramsky expects traders to look past a weak fourth quarter report and instead, focus on the potential that the company now has thanks to the Pre. The analyst estimates that after selling 50,000 units during the debut weekend earlier this month, Palm has now sold 150,000 Pre handsets (up from an original estimate of 120,000). He says that demand for the Pre remains strong, inventories remain low and some Sprint stores are still sold out of the touchscreen unit despite daily shipments. 

Abramsky says that there is still strong demand for the new device as shown by the June ChangeWave survey that shows 8% of those polled plan on buying a Palm handset, up from the 4% reading of the prior month. Looking into his crystal ball, the analyst says he expects a smaller $99 version of the Pre by the end of the fiscal year, along with other new models in 2010. The Wall Streeter is looking for more carriers to sign up with the manufacturer to offer the Pre. Mentioned specifically in the report are U.S. networkers AT&T and Verizon, Bell Canada, and Telefonica and O2 overseas. Abramsky stated that while demand for the Pre is accelerating, the device still trails both Apple's iPhone and RIM's BlackBerry models in the smartphone sales race.

Palm Pre Specifications | Review

source: Fortune


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