RIM Is Screwed

From RIM’s press release earlier today:

As previously disclosed, RIM has a high level of BlackBerry PlayBook inventory.  The Company now believes that an increase in promotional activity is required to drive sell-through to end customers.  This is due to several factors, including recent shifts in the competitive dynamics of the tablet market and a delay in the release of the PlayBook OS 2.0 software.

What are the “recent shifts in the competitive dynamics of the tablet market”? The “tablet market” has always been an “iPad market”. People were never buying other tablets in significant numbers.

In fact, Apple sold more than twice as many iPads on its first day of sales back in 2010 — before there even was a “tablet market” — than RIM did during all of its last quarter.

When will “amateur hour” actually be over? WIth RIM’s stock down approximately 10 percent today, it can’t be too long from now.

RIM Is Screwed