Analyst cuts RIM PlayBook forecasts by 23%

Analyst cuts RIM PlayBook forecasts by 23%
Analyst cuts RIM PlayBook forecasts by 23%
The latest sales performance estimates have caused at least one more analyst to lower predicted PlayBook numbers for the year

 

While RIM PlayBook sales haven’t been horrible, according to one analyst, other analysts may be having reserved predictions about the sales numbers of the latest BlackBerry tablet.

Analyst Scott Sutherland of Wedbush Securities claims RIM will only sell about 450,000 PlayBook units by the end of this quarter, much below his previous estimate for the device. In fact, his new yearly forecast for the tablet has been reduced to 2.3 million units, a 23% decrease from his earlier 3 million PlayBook prediction. Consequently, he has lowered his figures for RIM stock prices from $55 to $49.

According to Sutherland, the “lack of appeal will limit consumer adoption.” He believes the 7-inch screen and the proprietary software is just not the “revolutionary upgrade” required to rival Apple and Android vendors.

Information Week also notes that the BlackBerry Bridge app, which is required for official email, contacts, and calendar use, is not supported by AT&T, and can be considered a serious setback for RIM.

The BlackBerry PlayBook was released just over a month ago in the U.S. on April 19th for $499. The tablet was meant to kickoff the launch of the BlackBerry Tablet OS and the BlackBerry App World. RIM has yet to announce any official sales figures for the device, given that it has only been in market since mid-April.

 

Source(s)

> Notebook / Laptop Reviews and News > News > News Archive > Newsarchive 2011 05 > Analyst cuts RIM PlayBook forecasts by 23%
Author: Allen Ngo, 2011-05-26 (Update: 2012-05-26)