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Handspring Press Release Archive
HANDSPRING HANDHELD COMPUTERS AVAILABLE AT TARGET STORES
MOUNTAIN VIEW, CALIF. (October 30, 2000) - In its continuing efforts to reach a new demographic and make handheld computing accessible to the broadest possible range of consumers, Handspring, Inc. (NASDAQ: HAND) has entered into a distribution agreement with Target Stores, the leading upscale discount retailer. In time for the busy Holiday buying season, Target will begin selling Visor handheld computers, accessories, and Springboard expansion modules nationwide, effectively adding 900 storefronts in the United States where people can purchase Handspring's popular line of products.
Data from Dataquest/Gartner Group of San Jose, California indicates that handheld computer shipments in the U.S. will reach 28 million by 2004, representing 300 percent growth in the category over the next four years. Handspring's aggressive strategy to partner with a widely recognized retail brand in the U.S. is intended to enable this growth in areas that have been typically slower to adopt new technology products. The plan is geared to appeal to a new demographic of customers not reached through other distribution channels.
Ed Colligan, senior vice president of sales and marketing for Handspring, said, "The industry is on the cusp of a sizeable breakthrough in terms of volume as more people realize the benefits of handheld computing. To reach the next level of consumers we need first-rate mass merchandisers like Target to help build awareness and fuel adoption. Handspring is fortunate to have established a relationship with one of the country's best and most reliable retailers to help ignite this growth."
Steve Eastman, Divisional Merchandise Manager for Target, said, "Target is excited to expand our personal electronics department with the introduction of Handspring products. We believe the Visor offers a great solution to help our busy guests better organize their lives."
Target will begin selling Visor products this month in its Arizona locations, with a national roll out expected later this year.
About Handspring
Handspring is a leading innovator in the handheld computing industry. The company develops, manufactures and markets a family of expandable handheld computers for a broad range of markets and customers. Founded in 1998, Handspring's flagship technology is the Springboard platform that provides a simple and easy method for hardware and software expansion. Today Handspring sells its Visor line of handhelds at Handspring.com and through select Internet and retail partners in the U.S., Asia, Canada and Europe, along with a line of Springboard expansion modules and accessories.
About Target Stores
Minneapolis-based Target Stores, an upscale discount retailer, serves guests at 978 stores in 46 states nationwide and at www.target.com by delivering today's best retail trends at affordable prices. The largest division of Target Corporation (NYSE: TGT), Target Stores gives back more than $1 million a week to its local communities through grants and special programs. Since opening its first store in 1962, Target has partnered with nonprofit organizations, Guests and team members to help meet community needs.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements that involve risks and uncertainties, including those relating to: the potential for domestic shipments for handheld computers to reach 28 million by 2004; the degree to which Handspring's retail strategy will reach a new demographic of consumers thereby contributing to this sales growth; the likelihood that the handheld computer industry is about to achieve a breakthrough in terms of volume of shipments; and the dates when Handspring products will be available in Target Stores both in Arizona and nationwide. Actual results may differ materially due to a number of factors including, among others; continued consumer acceptance and demand for handheld computers; the ability of suppliers to meet demand in light of industry wide component shortages; macro-economic developments; the appeal of Handspring's Visor products to consumers that have been typically slower to adopt new technology products; and the rapid pace of technological change and competitive developments in the handheld computer industry. The matters discussed in this press release also involve risks and uncertainties described in Handspring's Form S-1 Registration Statement and Form 10-K filed with the Securities and Exchange Commission. Handspring assumes no obligation to update the forward-looking information contained in this press release.
Handspring, the Handspring logo, Springboard and Visor are trademarks of Handspring, Inc. and may be registered in certain jurisdictions. All other brand and company names are trademarks of their respective owners.
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