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PalmGear reports a 169% growth increase
Posted on 19-Feb-2004 07:56 | Tags Filed under: News

PalmGear reports a 169% growth increase
According to company results, the pace of consumer demand for Palm OS software content showed steady growth in Q4 2003 as unit sales rose 29% from October to December and trial downloads increased 5% over the same period. Fourth quarter application sales by category reports indicate an emerging trend toward more serious usage by consumers of their devices; Utilities (28%), Games (23%), Business/Finance (10%) and Education/Reference (7%).

The company has announced continuing growth in 2003.

"Our fourth quarter revenue for 2003 was 169% greater than the same quarter of 2002 signaling a rise in consumer awareness of third-party applications and customer commitment to the Palm OS handheld platform," said Ryan Wuerch president and chief executive officer of PalmGear. "Further signifying our growth is the success of our Premier and Growth Partner Programs which provide our developers with unrivaled marketing support. Developers who have joined the Premier Partner Program have seen an average revenue growth of 421% while Growth Partners members have averaged growth of 235%. These growth trends are proving to be consistent and even accelerating as we've entered 2004."

PalmGear's successful Premier Partner and Growth Partner programs were celebrated in October of 2003 with the company's inaugural "PalmGear Decaffeinated" Cruise through the Western Caribbean. Qualifications for the cruise were based on sales goals and more than 108 attendees from around the world joined the PalmGear team including developer partners and their families.

"With thousands of applications now available, it is encouraging to see the diversity in consumer usage for Palm OS devices," said Pam Parish, vice president of marketing for PalmGear. "Other categories showing emerging promise appear to be multimedia/graphics, enhancements, personal productivity, and wireless/communications. As we've moved into 2004 we are seeing a rise in smartphone usage and customer demand from vertical markets such as medical and education."

Announcements made in recent weeks further indicate PalmGear's aggressive moves forward in the Palm OS content market. The company is focused on the growth of the smarthphone market as well as specialty device markets such as Tapwave's award-winning Zodiac.

PalmGear's strategic partnership with Pinpoint and implementation of Pinpoint Fuel, a carrier-class mobile content management platform that manages the sourcing, management, and delivery of mobile content, is positioned to broaden the availability of Palm software to the growing Palm Powered wireless handheld market. Implementing PinPoint's Fuel Technology will facilitate Over-the-Air (OTA) provisioning applications from PalmGear's expansive catalog of more than 21,000 digital media titles.

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