It Took BlackBerry Two Years To Admit Its PlayBook Tablet Is A Total Dud

It Took BlackBerry Two Years To Admit Its PlayBook Tablet Is A Total Dud

STEVE KOVACH JUN. 28, 2013, 8:47 AM 2,478 7

BlackBerry’s tablet, the PlayBook, will not receive an upgrade to the company’s new mobile operating system BlackBerry 10, CEO Thorsten Heins said this morning during a call with analysts and investors. The news is an admission that the PlayBook is a dud. BlackBerry only shipped “approximately” 100,000 PlayBook tablets last quarter, the company said in its earnings report this morning. It did not say how many of those tablets were actually sold. When BlackBerry introduced BlackBerry 10 to the world earlier this year, it said an update for the PlayBook was on the way. But it’s hit several delays, and Heins said today he wasn’t happy with how the OS was working in the tablet form factor. So he killed it. The PlayBook launched more than two years ago to terrible reviews. BlackBerry attempted to address concerns with software updates, but the tablet still hasn’t sold very well. The fact that BlackBerry didn’t introduce new tablet hardware in that timeframe also demonstrated there wasn’t much demand for PlayBook tablets. The news is also shows Heins’ feelings about the tablet form factor. In a recent interview, Heins said he doesn’t believe tablets will be around in five years. Instead, he thinks people will use a smartphone for everything. BlackBerry reported devastating earnings today. It lost $85 million last quarter and its stock is tanking.

About bambooinnovator
Kee Koon Boon (“KB”) is the co-founder and director of HERO Investment Management which provides specialized fund management and investment advisory services to the ARCHEA Asia HERO Innovators Fund (www.heroinnovator.com), the only Asian SMID-cap tech-focused fund in the industry. KB is an internationally featured investor rooted in the principles of value investing for over a decade as a fund manager and analyst in the Asian capital markets who started his career at a boutique hedge fund in Singapore where he was with the firm since 2002 and was also part of the core investment committee in significantly outperforming the index in the 10-year-plus-old flagship Asian fund. He was also the portfolio manager for Asia-Pacific equities at Korea’s largest mutual fund company. Prior to setting up the H.E.R.O. Innovators Fund, KB was the Chief Investment Officer & CEO of a Singapore Registered Fund Management Company (RFMC) where he is responsible for listed Asian equity investments. KB had taught accounting at the Singapore Management University (SMU) as a faculty member and also pioneered the 15-week course on Accounting Fraud in Asia as an official module at SMU. KB remains grateful and honored to be invited by Singapore’s financial regulator Monetary Authority of Singapore (MAS) to present to their top management team about implementing a world’s first fact-based forward-looking fraud detection framework to bring about benefits for the capital markets in Singapore and for the public and investment community. KB also served the community in sharing his insights in writing articles about value investing and corporate governance in the media that include Business Times, Straits Times, Jakarta Post, Manual of Ideas, Investopedia, TedXWallStreet. He had also presented in top investment, banking and finance conferences in America, Italy, Sydney, Cape Town, HK, China. He has trained CEOs, entrepreneurs, CFOs, management executives in business strategy & business model innovation in Singapore, HK and China.

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