Palm warns of 30% miss on estimates.
Feb. 25 (Bloomberg) — Palm Inc. said it expects that adjusted revenue for the third quarter of fiscal year 2010 will be in the range of $300 million to $320 million. The average estimate of analyts surveyed by Bloomberg was for adjusted third-quarter revenue of $409.3 million. The company said revenue for the quarter and full year are being affected by “slower than expected consumer adoption of the company’s products.”
As a percent, Palm grew the fastest with 1,352%, followed by Ovi with 827%. The slowest growing was actually Blackberry App World with a mere 56% growth.
More curious is the popularity of certain categories. Games and Books are dominant in the App Store, while Personalization and Music account for more than half of Ovi (ringtones and wallpapers?)
Finally, in terms of catalog ranking overall, Ovi climbed the league table to third spot behind Apple and Android and overtaking Blackberry App World. Palm overtook Windows Mobile Marketplace which is now dead last with 693 apps.
Sales of H.P.’s hand-held products, including its iPaq smartphone, dropped to $25 million in the quarter, down from $57 million in the same period last year. Apple, by contrast, had sales of $5.6 billion for iPhones and related products during its most recent quarter.
To put it in more perspective, $25 million at an ASP of $350 a phone means HP sold about 70k phones last quarter, or what Apple sold every 17 hours.
Tim Cook confirmed at a Goldman Sachs press conference yesterday that Apple is calling themselves a “mobile device company” officially. The “traditional model” of having companies sell different things — hardware, software, peripherals — just doesn’t work on today’s world, according to Cook. So Apple is no longer a computer company, or an OS maker, or a media giant. Its main focus is mobile devices.