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Posted December 1, 2011

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Competition

RIM will miss earnings target for year

WATERLOO - RIM. expects to miss its full-year financial targets as it takes a big charge because of poor tablet sales and a software upgrade overload. The smartphone maker says it will book a pre-tax charge of about US$485 million on its books in the third-quarter. The non-cash charge reflects the lower value of the unsold inventory of its BlackBerry PlayBook tablets. In a statement RIM said it will need to heavily promote and discount the tablet in the face of stiff competition in the market.

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