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Palm Cancels Foleo, Loses $10 Million in Process

September 5, 2007 in Wireless Industry News

Never underestimate the power of analysts. After Palm announced the pseudo-laptop device called the Foleo, everyone jumped on the Foleo-bashing bandwagon. It wasn’t exactly rocket science: why bother making a laptop that doesn’t actually serve any useful laptop functions except for checking mail?

Palm Cancels the Not Long-Awaited Foleo Device

Palm cancels the Foleo knick-knack. Oh yeah, they also lost $10 million dollars.

I have to give Palm credit for two gutsy moves: announcing the Foleo and summarily canceling it. Yep, the Foleo version 1 is now as good as gone, and Palm is heading towards bigger and better things that includes on a new operating system and more Treos. Will the Foleo return for an encore in the future? Very possibly:

“The Foleo may not be gone for good — Colligan noted that he and Palm co-founder Jeff Hawkins think the Foleo’s product category has “enormous potential” and wrote that when a Foleo II emerges it will work on the company’s new platform. Colligan didn’t give a timeline for a new Foleo.”

Unfortunately, the company will have to take a $10 million charge for costs related to NOT releasing the doomed gadget.

Palm Cancels Foleo Companion to Treo – Yahoo! AP

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