Jon Rubinstein, the chief executive of Palm, has said that company suffered revenue shortfalls due to disappointing sales of its Pre Plus and Pixi Plus, but he is confident that company would gain momentum again.

Mr. Rubinstein admitted that Palm hit a speed bump, but he added Palm had $590 million in the bank plus a plan to get back to profitability.

He also praised its webOS platform. However, devices with webOS failed to report healthy sales both at Sprint Nextel and Verizon Wireless.

Disappointing sales compelled Verizon to hack the price of the Palm Pre Plus to $49.99 and the Pixi Plus to $29.99. Earlier in January, the Pre Plus and the Pixi Plus were priced at $149.99 and $99.99 respectively, with a twenty-four month contract.

Mr. Rubinstein said one of the major reasons for the disappointing sales was inadequate training of Verizon's in-store sales staff. To fix the problem, the company is now working with Verizon to train the carrier's retail sales staff on Palm products.