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Published On: Tue, Oct 19th, 2010

Steve Jobs lashes out at competitors Google and Research in Motion over ‘tiny tablets’

Apple Inc CEO Steve Jobs went on the offensive on Monday after a rare disappointment in sales by the iPad maker sent its shares tumbling, but even his biting words failed to reverse market sentiment.

Jobs, who has not addressed investors on an earnings call for two years, lashed out at competitors Google Inc and Research in Motion and dismissed the smaller tablets made by rivals such including Samsung and Dell.

“The current crop of 7-inch tablets are going to be DOA, dead on arrival,” Jobs told analysts on the conference call. “Their manufacturers will learn the painful lesson that their tablets are too small.”

Shares of Apple — the second-largest corporation on the Standard & Poor’s 500 index, after Exxon Mobil — slid 6 percent in after-hours trading, which would be their biggest single-day loss since 2008.

Supply and production bottlenecks kept iPads, which have a 9.7-inch touch screen, from store shelves and buyers waiting weeks sometimes for their gadget. The company sold 4.19 million iPads in the fiscal fourth quarter.

Read more: http://www.reuters.com/article/idUSTRE69H4UX20101019

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