In an effort to appeal to a wider range of cell-phone buyers, Palm introduced the Centro today. Centro is a small smart phone the likes of Research in Motion Limited's BlackBerry Pearl. PALM holds out hope that the $99 price tag will attract purchasers who are dissuaded by a $200-to-$300 smart phone or at least $400 iPhone. PALM's CEO, Ed Colligan, told the assembled masses that the smart-phone segment currently accounts for roughly 5% of total wireless sales, leaving 95% of that market untapped. Colligan noted that the Centro is not an iPhone killer, but rather is geared to the remaining 95% of the market. The Centro is slated for a mid-October release with Sprint as its exclusive carrier. Colligan did not state whether or not the device would be made available to other carriers. This product launch is seen as crucial for PALM, since a majority of the market is comprised of its competitor's offerings.