Analyst: RIM’s Playbook Forecast Far Fetched Due to Galaxy Tab and iPad

Although a little late in the game, RIM, the manufacturers behind Blackberry, are rolling out a tablet this year. The Playbook was met with great fanfare when it was first announced.  In fact Research In Motion and their investors have forecasted that they will sell 10 Million playbooks in their first fiscal year.

An analyst with top mobile firm Susquehanna in New York, Jeffrey Fidacaro wrote a note today that suggested these figures may be off.  Citing the success of Apple’s iPad and Samsung’s Galaxy Tab.  Fidacaro said RIM’s goals “may be challenging for RIM to achieve, particularly as the PlayBook is positioned as a ‘professional device’ and initially as a companion linked to a BlackBerry,”. Because of this and RIM’s falling share of the market place Fidacaro has put a “negative” rating on RIM stock.

Despite Fidacaro’s negative rating RIM stock continues to perform.  RIM fans have been excited since RIM’s CEO Mike Lazaridis showed off the playbook. They have also had pre-orders by some of RIM’s close business partners. While RIM expects to sell 10 million Playbooks in the first year, Fidacaro thinks they will sell around 8 million at an average price of $459.  Apple sold 4.19 million iPads in the last quarter while Samsung has sold 600,000 Galaxy Tabs in the first month.

Blackberry has consistently lost significant market share to the rise of Android every quarter for the last 18 months. In addition to the Galaxy Tab, the Android platform is expected to appear on a Motorola dual core tablet, and several other tablet devices in the first half of 2011.

source: Bloomberg

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