RIM to Take $485 Million Bath on Unsold PlayBooks

RIM:

Research In Motion Limited (RIM), a world leader in the mobile communications market, today announced that it would record a pre-tax provision in the third quarter of fiscal 2012 of approximately $485 million, $360 million after tax, related to its inventory valuation of BlackBerry PlayBook tablets. […]

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.

Translation: We made a lot of these things and we can’t sell them.

★ Friday, 2 December 2011