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Press Release
palmOne Growth and Profitability Strategy Rebalances Handhelds And Smartphones; Work Force Reduced
'MILPITAS, Calif., Jan. 21 /PRNewswire-FirstCall/ -- palmOne, Inc. (Nasdaq: PLMO), the world's leading maker of handheld computers and maker of highly acclaimed smartphones, today announced it has initiated a second phase of the integration process that began when the company acquired Handspring, Inc. on Oct. 29, 2003. The company is rebalancing the investment levels in its handheld computer and smartphone product families, and reducing its work force by about 100 people, or 12 percent.
The work force reduction affects positions across most functions, streamlining the company as part of a plan to achieve growth and profitability in fiscal year 2005.
"We intend to maintain our lead in the handheld-computer category with new, innovative solutions while we shift more investment toward the higher-growth smartphone category," said Todd Bradley, palmOne president and chief executive officer. "The Handspring acquisition continues to deliver synergies, and tough but strategic decisions coupled with operational discipline enable us to reduce overall spending. We are committed to delivering growth and profitability, and these actions will move us closer to those goals."
After the work force reduction, palmOne will have approximately 740 employees.
About palmOne, Inc.
palmOne, Inc. delivers what matters most to customers -- whether a single consumer or company of thousands -- enabling users to improve their personal lives and professional productivity through mobile devices and solutions.
palmOne is the name adopted in October 2003 by Palm, Inc., when it spun off PalmSource, Inc., maker of the Palm OS(R) platform software, and acquired Handspring, Inc. Uniting the Zire(TM), Tungsten(TM) and Treo(TM) subbrands, the creation of palmOne launched a new, stronger market leader in handheld computer and communications hardware and software solutions.
More information about palmOne, Inc. is available at http://www.palmOne.com .
NOTE: Palm OS, Zire, Tungsten and Treo are among the trademarks or registered trademarks owned by or licensed to palmOne, Inc. or its subsidiaries. All other brand and product names are or may be trademarks of, and are used to identify products or services of, their respective owners.
SOURCE palmOne, Inc.
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