Palm sell-through down 15% year-on-year

Smart phones sold to retail customers totaled 408,000 units, down 15% from a year earlier and 29% sequentially

By some estimates, Apple pre-sold more iPads online in one week than Palm sold smartphones through Sprint and Verizon stores in 3 months.  What’s more remarkable is that year-on-year decline implies Palm sold more Windows Mobile devices than WebOS which was not on the market a year ago.

link: Palm Narrows Loss but Retail Sales Decline – WSJ.com

• The company said there are over 2,000 apps in the Palm App Catalog.
• ASP was $367, down from $375.
• Almost all volume was from WebOS products (Windows Mobile devices are gone)
• For Q4, the company expects revenue to be less than $150 million.
• Q4 gross margin likely in the mid-teens.
• Guidance for $150 million in revenue, down 57% sequentially.

After hours market cap for Palm is about $833 million down 13%.  Expected revenue and ASP imply about 410k units will be sold into the channel in the following quarter.