RIM's PlayBook Seen as Longshot to Succeed (RIMM)

The QNX operating system featured in the BlackBerry (NASDAQ:RIMM) PlayBook tablet has been tied to the company's dismal market performance and is now seen as a longshot to succeed in what is becoming a fierce market climate created by the competitive Android and iOS. Hardware manufacturer Quanta has reportedly decided to reduce production lines for RIM's PlayBook at its factory in north Taiwan due to weak market performance and has offered preferential compensation to lay off around 1,000 workers.

Shares of Research in Motion are relatively flat in the pre-market session, trading up to $22.75 per share. On September 16, 2011, Research In Motion (NASDAQ:RIMM) was downgraded to Underperform from Sector Perform at Pacific Crest. The stock closed yesterday at $22.73 which is 5.01% lower than the downgrade price of $23.93.

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• Research in Motion
• RIMM
• QNX
• PlayBook
• Layoffs
• business
• finance
• news
• investing
• trading