RIM Shares Tumble as Company Pushes Back BlackBerry Release

Research In Motion Ltd. fell to the lowest level in almost eight years after saying a new generation of BlackBerrys designed to fuel a comeback won't be out until the “latter part” of 2012.

The smartphone maker, which originally planned to release the new devices in the first quarter of next year, also gave a sales and profit forecast that missed analysts' estimates.

The delay adds to the challenges at RIM, which has lost market share to Apple Inc.'s iPhone and Android phones. The company also flubbed its entry into the tablet market, with a device that bombed with shoppers. After all that, investors may not trust the new target for the upgraded BlackBerrys, said Alkesh Shah, an analyst at Evercore Partners Inc.

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- Posted: 2011-12-16 12:34:50

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