Research In Motion, maker of the BlackBerry smartphone range, shares plummeted up to 16 percent in just hours of trading yesterday as a result of RIM issuing a softer than expected third quarter profit forecast.

Research In Motion dampened analysts expectations for the 3 months up to Novermber in response to the slower than anticipated launch of their BlackBerry Pearl Flip and BlackBerry Bold, as these mobile handsets are now expected in the late 3rd quarter or early 4th.

Research In Motion is apparently also struggling at the higher costs of introducing the BlackBerry Pearl Flip and Bold.

Source — nypost