RIM warns of financial target miss

Revenues hit by PlayBook flop, outage costs

Research In Motion warned on Friday that it expects to miss its financial target for the year, due to steep discounting of its weak-selling PlayBook tablet, declining BlackBerry shipments and a charge related to the global service outage that disrupted service in October. The hit from the PlayBook firesale, meant to promote the tablet among sceptical consumers, was estimated at US $485 million, while the October outage cost the company $50 million, meaning the Waterloo giant likely won’t meet its revenue guidance of $5.3-billion for the year.

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