Research In Motion (RIM) announced it is recalling 1,000 PlayBook tablets because of defective operating software.
RIM said there is an issue with the company's QNX operating system in certain PlayBook tablets. These tablets were shipped with software, that may result in the devices unable to properly load software upon initial set-up. RIM said tablets with 16 gigabytes of memory were affected and it is working quickly to replace the tablets.
RIM said customers who have an affected tablet and can't load the software correctly can call the company for help. According to the blog Engadget, the affected tablets were shipped to Staples Inc. stores. However, RIM could not verify this.
This announcement comes a few weeks after RIM lowered its Q1 guidance going from $1.47-$1.55 for projected earnings per share to $1.30-$1.37 per share. The company had to lower its guidance because of the lack of Blackberries being shipped and thus sold. As a result of that announcement, RIM's stock has sunk like a stone, plunging 14.77 percent, or $7.95 per share.
As a result of the company's latest mishap, RIM's stock was down 0.88 percent, or 38 cents, from $43.24 to $42.86. While this wasn't as significant as the April drop, the newest total is the lowest the stock has been in more than two years.
The Waterloo, Ont based RIM has had trouble, like many other electronics manufacturers, in competing with Apple in the emerging tablet market. The market, according to research firm Gartner, is cornered by Apple's iPad, and will be for a while.