Research in Motion aims to use its close ties to the corporate world to get business users interested in its new PlayBook tablet.
(The Canadian Press, Research In Motion via Associated Press)
MARKET MOVERS
BlackBerry maker’s profit forecast misses
Research in Motion aims to use its close ties to the corporate world to get business users interested in its new PlayBook tablet.
(The Canadian Press, Research In Motion via Associated Press)
Research In Motion, the maker of the BlackBerry smartphone, fell after forecasting first-quarter revenue and profit that missed analysts’ estimates. Profit will be $1.47 to $1.55 a share as the company spends more on research and steps up marketing for its PlayBook tablet and new smartphones, RIM said. Analysts had predicted profit of $1.66 on average. RIM’s PlayBook, due in the United States on April 19, will have to play catch-up with Apple Inc.’s iPad, which came out more than a year ago. New BlackBerry models like the Torch, designed to compete with Apple’s iPhone and premium devices built on Google Inc.’s Android platform, may not be enough to stop consumers from defecting to rivals, said William Power, a Robert W. Baird & Co. analyst.
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