Wednesday, October 26, 2011

Research in Motion (Nasdaq: RIMM) shares fall as PlayBook OS is delayed

Research in Motion (Nasdaq: RIMM) shares fall as PlayBook OS is delayedTallahassee, FL 10/26/2011 (PennyPayDay) --Research In Motion (NASDAQ: RIMM) won't upgrade the software for its PlayBook tablet computer until February, months behind schedule, and the new version still won't feature the popular BlackBerry Messenger application.

Shares of RIM dropped fell nearly 6 percent to $20.99 by midday Wednesday as investors digested the latest in a string of disappointments as RIM struggles to compete with Apple Inc's category-defining iPad tablet.

The Canadian company that makes the BlackBerry introduced the PlayBook last April. But technology writers, financial analysts and consumers alike scorned the tablet because it could not handle the in-built email, calendar and contact applications that made BlackBerry a household name.

At the time of the launch, RIM said it would add email and other features within 60 days. It later pushed that deadline back to the summer months and then to October.

The latest delay was announced on RIM's official blog late Tuesday.

"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," wrote David Smith, a senior vice-president for the PlayBook.

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