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Edition: U.S. Article Comments (0) Video Follow Reuters Facebook Twitter RSS YouTube Read Prince William and Kate Middleton declared married 10:17am EDT Prince William pays tribute to Diana at wedding 8:26am EDT Prince William and Kate Middleton declared married 7:55am EDT Royal newlyweds kiss, cheered by a million fans 11:17am EDT Kate Middleton wows crowd in McQueen designer's dress 9:15am EDT Discussed 141 Obama sees no magic bullet to push down gas prices 95 White House releases longer Obama birth certificate 42 Five women brutally murdered in Mexico beach resort Watched Fire ants form rafts to defy floods Tue, Apr 26 2011 Nokia announces layoffs, outsourcing Wed, Apr 27 2011 Alabama tornado damage Thu, Apr 28 2011 Storm clouds gather for RIM after profit warning Tweet Share this By Alastair Sharp TORONTO (Reuters) - Like the little boy who cried wolf too often, BlackBerry maker Research In Motion has to prove it really can deliver on ambitious promises about its next generation of gadgets. RIM on Thursday slashed its sales... Email Print Related News Instant View: RIM slashes forecasts, Microsoft profit climbs 10:57am EDT Analysis & Opinion Tech wrap: Privacy storm strikes Sony, passes Apple Fear, loathing and apathy about digital security Related Topics Technology » Hot Stocks » Asian Markets » Media » iPad » Stocks Related Video RIM cuts target on BlackBerry woes 3:30am EDT A person surfs the internet through a Blackberry in Jakarta January 10, 2011. Credit: Reuters/Enny Nuraheni By Alastair Sharp TORONTO | Fri Apr 29, 2011 10:57am EDT TORONTO (Reuters) - Like the little boy who cried wolf too often, BlackBerry maker Research In Motion has to prove it really can deliver on ambitious promises about its next generation of gadgets. RIM on Thursday slashed its sales and earnings forecasts, a third body blow in just over a month after an anemic forecast in late March and the troubled launch of an as-yet underwhelming competitor to the red-hot Apple iPad last week. Its shares shed some 13 percent early on Friday, in line with a late-trade fall on Thursday and an eerily similar drop to that after its March results. "We've heard for too long about RIM's great product roadmap. Consumers are not listening nor waiting," National Bank analysts said in a note. "RIM does not even seem to have dual cameras on its upcoming BlackBerry product line-up. The last time we checked, video is the future." Thursday's after-market warning focused on weak sales of RIM's aging smartphones in the United States and Latin America, and the company lowered an already tepid outlook for the current quarter. All hope seems to now rest on what the Canadian company pulls out of its labs and onto center stage at a Florida trade show, BlackBerry World, starting Monday, where the company will unveil a new generation of touch-screen BlackBerrys. Expectations are low. NO TURNAROUND Analysts said consumers are tired of waiting for RIM's innovations to kick in, and were "voting with their dollars," spending much of them in Apple stores and on Google's Android platform. RIM had hoped to turn that around with the later-than-expected launch of its PlayBook tablet -- a sleek compact computer that runs on a fresh QNX platform that RIM says will transform its business. But the PlayBook won dismal reviews and complaints it was rushed out before it was ready, despite a six-month launchpad. "Misexecution has undermined sentiment recovery," wrote Mike Abramsky, a longtime optimist on RIM, who kicked RIM out of his preferred list of stocks and slashed his target price to $55 from $90. RIM's Nasdaq-listed shares fell 13 percent to $48.21 by mid-morning on Friday. Its Toronto-listed shares fell to C$46.79. "PlayBook is a promising tablet contender, but RIM bears some responsibility for its less-than-favorable debut, confusion over its positioning and criticisms it was not fully ready for market," Abramsky wrote. Customers and developers are eager to know when the PlayBook will run Android and BlackBerry smartphone applications, while investors want to know how many PlayBooks sold in the first week and when better phones will ship. LOST FAITH Jefferies analyst Peter Misek dropped his rating by two notches to "underperform" and cut his price target to $35 from $80. He said RIM was scrambling to fix glitches in the PlayBook and integrate QNX, likely leading to delays for new handsets and flagging interest from carriers. RIM has tried to shift attention to what comes next -- a suite of phones running an upgraded (but not yet QNX-based) operating system with beefed-up hardware. "We're cutting over to a whole new platform, a whole new set of products, a whole new set of architecture. And it's very, very powerful and very, very exciting," RIM's co-chief executive Jim Balsillie told a conference call on Thursday. "Stay tuned, the products are truly fantastic both in terms of their style and their performance. The issue is, I would have liked to have them sooner." The sliding stock price shows that the market is yet to be convinced. (Additional reporting by Soham Chatterjee and Tenzin Pema in Bangalore; editing by Janet Guttsman) Technology Hot Stocks Asian Markets Media iPad Tweet this Share this Link this Digg this Email Reprints We welcome comments that advance the story directly or with relevant tangential information. We try to block comments that use offensive language, all capital letters or appear to be spam, and we review comments frequently to ensure they meet our standards. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. Comments (0) Be the first to comment on reuters.com. Add yours using the box above. 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Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests. NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.

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