Friday, January 25, 2008

Palm closes stores, settles Treo suit

Palm plans to close all but one of its nearly three-dozen retail stores, the company announced yesterday. It has also settled a class-action lawsuit filed by owners of the Treo 600 and 650 smartphones.

The store closings and settlement are the latest in a string of bad news for the struggling smartphone-maker. Last year, Palm laid off 10 percent of its workforce and took a huge financial hit with the withdrawal of the Folio smartphone companion on the eve of its planned release.

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