RIM Stock Takes A Hit On Lukewarm PlayBook Reviews

Research In Motion's BlackBerry PlayBook won't hit stores until next week, but lukewarm reviews of the tablet have already hit RIM's stock.

Shares of RIM dropped one percent today on the news that early reviewers have not greeted its latest device with much enthusiasm. Many reviewers, including those from the Wall Street Journal and The New York Times, have noted that while RIM has created a very compelling, well-made tablet, the device still feels unfinished.

This is echoed in RIM's announcement that the company plans on adding major features within the coming months. One such post-release inclusion is an emulator that will allow the device to run applications made for Google's Android operating system. That functionality, however, isn't expected until thus summer and is an omission that reviewers of the PlayBook have not taken well. Reviewers have also cited the PlayBook's relatively weak battery life as another flaw in the device.

A number of reviews have asked what kind of customer RIM is looking for with the Playbook. When the Playbook was rolled out at the Consumer Electronics Show in January, the comapny emphasized its consumer appeal. But Blackberrys have historically benn an enterprise-centered device, an iconic symbol of the businessman on the go. RIM has also made a name for itself as the gold standard of corporate messaging security with its BBM service.

RIM stock started the day at $54.09 before bottoming out midday at $52.66. The stock closed at $53.67.