Introducing the new Palm Centro
Shares Palm Inc. introduced their newest product on Friday when they unveiled the new Palm Centro.
The Centro is a light-weightaffordable smart phone with QWERTY keyboard. It will hit the shelves at Sprint-Nextel stores in October and will be available on other carriers later this fall.
You can get a Palm Centro from Sprint for around $99 with a 2-year contract.
NEW YORK (AP) -Shares Palm Inc. rose Friday after the company debuted its latest smart phone, the Palm Centro, which is cheaper, lighter and thinner than the company's Treo products.
Palm shares rose 36 cents, or 2.2 percent, to $16.76 in morning trading. During the past year, the stock has traded between $13.41 and $19.50.
On Thursday, Sunnyvale, Calif.-based Palm unveiled the Centro, which the company expects to become available in mid-October. The device will cost $99.99 with a two-year service plan from Sprint Nextel Corp., which makes the Centro cheaper than other Palm smart phones and puts it in the price range of cheaper offerings from competitors like Research In Motion Ltd. and Samsung Electronics Co.
The Centro will be offered through other carriers 90 days after it becomes available through Sprint.
At 4.2 ounces and 0.7 inches thick, the Centro is lighter and slimmer than the Treo models.
In a note to clients Friday, Morgan Keegan analyst Tavis McCourt the Centro "stacks up well" when compared with other handsets.
The analyst noted that the product's features -- which include a 1.3 megapixel digital camera, microSD card slot and a QWERTY keyboard -- are usually found on more expensive handsets.
"The Centro offers a robust set of features that resonate well with consumers, and the device is certainly compelling at a $99 price point," he wrote.
McCourt holds an "Outperform" rating on Palm.