Research in Motion announced on Friday that its inability to sell PlayBook tablets to consumers has forced the company to take a $485 million charge.
The mostly non-cash inventory provision is yet another bad sign for the PlayBook, which has failed to gain any traction in the tablet market dominated by Apple. Retailers began a fire sale of the touchscreen device last month, slashing as much as $300 off the price of the PlayBook in an effort to move inventory.
The PlayBook sold just a half-million units in the first quarter of availability, but dropped to 250,000 the following quarter. In the third quarter, sales dipped to just 150,000.
Friday, December 02, 2011
RIM Loses $485 M in Unsold PlayBooks
Neil Hughes reports that Unsold PlayBook inventory costs RIM $485 million: