Loss of faith in RIM deepens as PlayBook debut nears |
| Reuters - Mar 25, 2011 |
Research In Motion (RIM.TO) (RIMM.O) is facing skeptical investors unsure the BlackBerry maker can pull off a difficult transition as it promises strong growth based on a tablet and operating system few have seen.
Shares of the Canadian company opened more than 10 percent lower on Friday, the morning after it warned of weak profit and revenues in the short term as it ramps up for next month's launch of the long-anticipated PlayBook tablet. ID:nLDE72O07C]
RIM has spent heavily developing and marketing the device, designed to snatch some glory away from Apple's (AAPL.O) iPad, which virtually invented the now-crowded tablet market.
To cushion the blow, RIM took the unusual step of providing Wall Street with a forecast for full-year earnings that topped the expectations of all but the most optimistic pundit. The number supported RIM's contention that the pain surrounding the PlayBook launch would set the stage for long-term gain.
Read Full Article from Reuters
- Posted: 2011-03-25 11:23:01
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