Palm Shutting Retail Stores - Paying Out Treo Owners

Palm Shutting Retail Stores - Paying Out Treo Owners. Palm are apparently shutting their stores. TreoCentral forum member is claiming Palm will be closing all but its airport-based retail locations by the end of this month. This goes beyond rumor, as other forum members have confirmed this, having previously checked in with their local stores.

Palm announced on Wednesday that it has decided to close its retail stores as it faces the effects of a class-action lawsuit filed by Treo owners. The company’s 34 stores including eight Palm-branded locations and 26 stores that were inside Airport Wireless outposts will have to go by the end of the current quarter.

In addition, as part of the settlement of a class-action suit filed back in 2005, Palm agreed to give cash rebates for the Treo 600 and 650 owners who have had their units replaced or repaired at least twice.

For the past years, Palm’s market share is decreasing compared to RIM and other smartphone/PDA manufacturers so as their stock price. Their new products weren’t impressed neither and even a geek like me would not consider their products unless they have some new things that I’ve overlooked or coming out soon.