UPDATE: Sprint: We Have Palm Pre Exclusively Through 2009
29 May 2009 - 6:01AM
Dow Jones News
Sprint Nextel Corp.'s (S) exclusivity agreement with Palm Inc.
(PALM) and its Pre smartphone runs "at least" through the year,
according to a Sprint spokesman.
"We have the Pre at least through 2009," said spokesman James
Fisher.
Verizon Wireless Chief Executive Lowell McAdam told analysts at
an investor conference that, over the "next six months or so," the
carrier would be getting the Pre and a "cousin" device. The
disclosure surprised industry watchers, although it could fit
Sprint's timeline if McAdam meant six months from the Pre's June 6
launch date.
Sprint is relying on Pre as its flagship product and one of the
major keys to its turnaround. The device has reached the levels of
hype and excitement of Apple Inc.'s (AAPL) iPhone, and the wireless
carrier expects shortages in the early days.
"We are excited about the response to Palm Pre, and look forward
to it joining our line-up," said Sprint spokesman Mark Elliott.
Palm declined to comment on Verizon's claim.
"We don't ever comment on our deals," said spokeswoman Leslie
Letts. "We haven't announced anything with Verizon."
Verizon Wireless talking about the Pre, however, likely deflates
hope that the exclusivity agreement gets extended.
Verizon Wireless is jointly owned by Verizon Communications Inc.
(VZ) and Vodafone Group Plc (VOD).
Palm shares rose 8.8% to $11.46. Sprint shares rose 0.8% to
$5.11.
-By Roger Cheng, Dow Jones Newswires; 201-938-2020;
roger.cheng@dowjones.com