Palm announces another loss

Despite strong sales of its Palm Centro smartphone, Palm reported its 5th straight quarterly loss yesterday. It posted a net loss of nearly $42 million for the three months ending on August 31st, which is a sharp increase when compared to their net loss of $841,000 for the same period last year.

Amid the loss is a success – the Palm Centro smartphone, which sold more than 1 million units in the past quarter, an almost 50% increase from last quarter and has sold more than 2 million units in less than a year. The phone, which is available from Sprint, AT&T, and Verizon, comes in a variety of colors (including the upcoming Rose and Green) and was a hit among women and newcomers to the smartphone world. It also endeared itself to Palm veterans loyal to the aging OS.