As you no doubt know Research In Motion hasn’t been having a good time in the mobile space with their BlackBerry smartphones and the BlackBerry PlayBook and although RIM has introduced numerous product offerings along with new services they simply can’t seem to pick up the pace in as much Research In Motion shares have fallen to an all time low since the year 2004.
According to an article over on Memeburn, the battering of BlackBerry stock was revealed in a RIM earnings outlook that showed that sales of the BlackBerry PlayBook simply haven’t done that well at all regardless of RIM dropping the price.
The weak sales in the BlackBerry PlayBook results in Research In Motion chopping their expectations of earnings for the third quarter down to $485 million US, a large amount to your everyday person but not in the business game, and apparently shareholders are not too happy.
Many shareholders have stuck with RIM through the thick and thin of the problem despite earlier earnings warnings this year, and as a result several left the stock which shed almost 10 percent of its value opening at $18.58 US per share and closing at $16.77 US per share.
However, regardless RIM has stated they are sticking in the tablet game and confirmed their commitment to the tablet market an apparently believes that increasing promotional activity will “drive sell-through to end customers.”
However apparently despite Rim being upbeat over their tablet future and RIM CEO Mike Lazaridis stating RIM is committed to the BlackBerry PlayBook, since the start of 2011 the company has seen a total loss of some 75 percent of its value, no wonder it’s a shareholders nightmare.
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