Research in Motion Continues to Self-Destruct in Slow Motion
Research in Motion (NASDAQ:RIMM) has announced plans to delay the launch of its BlackBerry PlayBook OS 2.0 tablet until February 2012. The move couldn’t come at a worse time for the imploding tech company.
On the company’s corporate blog, David J. Smith, SVP, BlackBerry PlayBook, Research In Motion, wrote,
As much as we’d love to have it in your hands today, we’ve made the difficult decision to wait to launch BlackBerry PlayBook OS 2.0 until we are confident we have fully met the expectations of our developers, enterprise customers and end-users.
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Postponing its tablet is another competitive blunder for RIMM. Amazon (NASDAQ:AMZN) will begin selling its highly praised Kindle Fire tablet on Nov. 15, which could lure potential PlayBook OS 2.0 customers away. Not to mention missed holiday sales for RIMM.
The company also faces smartphone challenges with today’s introduction of the new Microsoft (NASDAQ:MSFT) Nokia (NYSE:NOK) smartphones and the continued successes by Apple, Inc. (NASDAQ:AAPL) with its iPhone 4S and Google, Inc.’s (NASDAQ:GOOG) Android phone. According to IDC market share data from the second quarter, Apple led smartsphone market share at 19.1 percent, while RIM came in at 11.0 percent market share or fourth place.
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What has RIMM brought to the smartphone market lately? A bunch of angry customers who recently dealt with three days of worldwide service disruptions.
RIMM’s (NASDAQ:RIMM) stock is down 5.79% to $20.99 on the news. Shares are down 63.89% year to date. The stock has traded in a 52-week range between $19.29 and $70.54.