Warning: Statements Made By Palm Director Are Not Endorsed By Palm
Palm’s board member and major investor Roger McNamee garnered a ton of attention last week after predicting the day that the Palm (NSDQ: PALM) Pre will overtake the iPhone — a month after June 29, which is the two-year anniversary of the iPhone. Yesterday, Palm corrected and toned down those statements in a SEC document that stated that McNamee’s opinions “are not endorsed by Palm.” PalmInfoCenter first identified the SEC document, which can be found on Palm’s web site here.
Most of the corrections are about predictions McNamee listed off during the interview, and frankly may reflect badly on Palm if they are not correct since he sits on the company’s board as an investor from Elevation Partners. For example, Palm wrote: “With respect to the statement in the fourth paragraph of the transcript that smartphones are anticipated to increase their share of the U.S. mobile phone market to ’50% within 5 years,’ one third party industry analyst report estimates smartphone share of the U.S. mobile phone market will reach 42.0% in 2012.”
But others relate directly to the performance of the upcoming Palm webOS and the Pre. Almost all were shot down with Palm, claiming that the hardware and software is still underdevelopment. For instance: “With respect to the statements in the tenth paragraph of the transcript that the Palm Pre is ‘going to be a million times
Has he said anything interesting about other investments? He has a really great video on AllThingsD.com that shows him demo'ing the device that is worth a visit.
Look forward to the side by side and analyst expectations on the device race.
I don't care what anyone states, the proof is in the pudding. What I saw at the Consumer Electronic Show in Vegas speaks for itself. This phone is going to run rings around the iPhone, however for a short period of time. What happens after that will depend on Apple. Ever since I saw the Pre I can't wait to pawn off my phone to a friend or so. Kudos to palm, I am convinced and impressed beyond any doubt that Palm is here to stay and most probably regain its crown. With the right leadership at the helm Apple and company are going to have a tough time trying to displace the Pre.
What McNamee failed to mention was the space-based microwave transmitter Palm will launch in Q2 which is designed to emit radio-waves that render all iPhones useless. I hear the launch-pad is located in Venezuela.