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.
RIM warns of financial target miss
Revenues hit by PlayBook flop, outage costs
FILED UNDER: Research in Motion