Legend Mobile Scraps Jordan Branded Handheld
Legend Mobile, formerly PTN Media, lost nearly $308,700 in the second quarter and has ended its agreement with basketball superstar Michael Jordan. Legend Mobile is the company known for marketing the Claudia Schiffer and Jordan branded Palm handhelds.
For the first six months of this year, Legend reported a net loss of $574,248 or 8 cents a share on revenue of $57,672 compared with a net loss of about $948,000 or 20 cents a share on revenue of $226,866 for the same year ago period. Legend said it entered a settlement agreement with Jordan on June 27 to stop using Jordanís likeness on any products. As part of the agreement, Legend paid Jordan $468,750.
In January of 2001, Legend Mobile entered into a three-year, exclusive, royalty-free, worldwide license agreement with Michael Jordan, the former NBA player, granting them the right to use Jordan's name, likeness, image, and endorsement in connection with the advertisement, promotion, and sale of Jordan branded handheld computers using the Palm OS.
Legend Mobile had previously promoted the Claudia Schiffer Palm Vx. The Claudia Edition featured a aqua colored brushed aluminum standard Palm Vx shell designed to make the handheld more stylish and appealing to women. Both the Claudia and Jordan handhelds featured personally picked custom software. The Jordan Palm m100 cames with a black faceplate and flip cover with the Jordan name in silver on the front. The Jordan Palm m500 (originally sold for $425) and had the Jordan logo on the top left-hand corner.
Lackluster sales caused Legend to scrap the Jordan handhelds and seek other forms of revenue. Currently the company promotes celebritity editions of mobile phones and accessories. They have deals with Playboy, pop singer Christina Aguilera, rapper Nelly and several NASCAR drivers.
Thanks to PalmLoyal for the Tip.
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