Excerpt from Barron's:
Although there are 50 million cell-phone subscribers in the U.S., only a tiny portion of them have smart phones. More useful in many ways is a slightly larger breed of handheld digital gadget that includes 3Com's PalmPilot ($240, at retail). Several camps are angling for supremacy in the handheld domain. One includes 3Com and the companies that are licensed to use its Palm operating system in their handheld devices. IBM is part of this group. The other major contingent is headed by Microsoft, and it includes companies like Hewlett-Packard and Philips, whose handheld machines use Microsoft's Windows CE software. A third alliance uses the Symbian software of Psion PLC, the London-based maker of handheld computers. Motorola recently joined the Symbian alliance, which also includes mobile phone makers Ericsson and Nokia.
The Palm camp has attracted more than two million users, in part because it has an early lead in software development, including some promising tools for investors. Most intriguing is the MarketClip service from Reuters, which also runs on Hewlett-Packard's palmtop. The latest version of MarketClip features real-time prices on everything from stocks to currencies, plus full-length versions of Reuters news stories. When Barron's tried the service on a 3Com Palm III ($350), we found the service's stock charts spare, but usable. Reuters' news coverage is fine for monitoring markets worldwide, but is a bit thin for anyone hoping to do industry research.
The Palm III connects to Reuters through a wireless CDPD modem from Novatel, called the Minstrel. One problem: With the modem and batteries, the Palm package becomes a small brick that no longer fits a shirt pocket. Still, the service proved to be usable across the New York metro sprawl, with rare glitches. We tested it from a ferry on the Hudson River and from a speeding commuter train in New Jersey. MarketClip receives and sends information, and it does so with a speed that should satisfy 'most anyone.
MarketClip is available in several packages. But first you need the gadgets. Reuters can provide a PalmPilot Pro and wireless modem for $399, a Palm III for $739, or an H-P 620LX (which has a keyboard) for $1,099. Setting up an account costs $69, and monthly charges are $99 for unlimited airtime, plus $15 stock exchange fees for non-professional investors. You can also pay for the hardware over a year's time, with monthly payments ranging from $134 to $194, including service.
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