"We think that it will continue to lose market share and market relevance, leading to an eventual closing of its doors", is the damning report from Nomura's Andrew Beswick on smartphone company Palm following updated financial results.
It appears Palm lost far more in its last financial quarter than it realised. After admitting to losing $31.5 million in a quarter ending 28 February, Palm has released updated figures that shows it actually lost over $25 million more, for an approximate total of $57 million.
Another expert, Needham's Charlie Wolf said Palm has "lost its way" while Beswick continued his analysis saying that Palm does not offer enough devices or distinguishable variants:
"This is an endemic problem that Palm cannot treat without getting bigger," Beswick said. "Put simply, it is not big enough to be able to afford the R&D to be able to keep up with the likes of RIM and HTC."