May 18, 2011 by USA Post
Playbook Recall, This past weekend RIM announced the withdrawal of nearly 1,000 BlackBerry playbooks. The company cited a fault with the software that in some cases, preventing the unit properly loads the initial configuration software. In the wake of the news, the Canadian company based in Waterloo, saw stocks fall sharply.
The Times of India reports that the Toronto Stock Exchange, shares of RIM closed at 41.72, the lowest the company have operated under since 2006. On Nasdaq, shares dropped to 42.61 and dangerously close to two of the company-year low and 42.53 in March 2009. To offer some perspective, RIM shares traded in 150 and the Toronto Stock Exchange at its peak in June 2008.
As smart phones have become more than just an accessory for businessmen, RIM has largely failed to attract younger users; social attracted to the iPhone and Google Android devices more. The lukewarm response playbook BlackBerry and other RIM devices with touch screen, like the BlackBerry Storm, have left many wondering if RIM has what it takes to compete. The addition of support for Android applications is seen as positive, butanlysts are closely watching the company.
“Generally, the withdrawal of products do not reach the headlines when is less than about 100,000 devices,” said Tero Kuittinen, ananlyst at MKM Partners LLC, Bloomberg. “This shows that people are using a magnifying glass when looking at RIM.”
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