Friday, December 2, 2011

Research in Motion stock motion is down

   Research in Motion (RIM) the Canada-based company that makes the Blackberry has been selling off its Playbook tablet at huge markdowns from its original price. I saw it on sale at Futureshop the other day advertised at 200 dollars marked down from 500. Of course they had none in stock!
   RIM had introduced the Playbook in April at a time when iPad had already established a clear dominance of the market. In the third quarter of this year RIM sold 150,000 Playbooks compared to 11million iPads sold by Apple.
   RIM shares dropped more than 8 per cent the other day. Once a favorite with investors, this year the price of the stock has dropped about 70 per cent. The company warned it would not meet its financial targets. RIM market share has been eaten up by the Apple iPhone and also Google's Android devices. A global outage of  its network for the Blackberry also hurt consumer confidence in the company.
For much more detail see this article.

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