Analyst Pegs First-Month PlayBook Sales at 250,000

Despite its poor critical reception, unresolved tethering issues and a recall of 1,000 units, Research In Motion’s PlayBook tablet is selling reasonably well.

Channel checks conducted by RBC* analyst Mike Abramsky suggest the company has sold an estimated 250,000 PlayBooks since launching the device and is on track to sell as many as 500,000 in the first quarter, which would be stronger than early sales of the Motorola Xoom.

“PlayBook sales remain steady since launch,” says Abramsky. “Checks at 180 Best Buys show 14 percent of the 16GB model sold out, 71 percent of the 32GB model sold out, and 84 percent of the 64GB model sold out; however, 32GB/64GB stock-outs appear allocation-related.”

Welcome news for RIM bulls, who’ve undoubtedly been chugging a lot of Mylanta lately. And for RIM co-CEO Jim Balsillie, who’s been aggressively talking up the PlayBook’s prospects since well before launch.

“The interest [in the PlayBook] is extremely high,” he said back in March. “Let me put it this way: I have many corporate clients that have approached us about, you know, each wanting tens of thousands, several tens of thousands of PlayBooks.”

If nothing else, 250,000 PlayBooks sold in the device’s first month at market lends a bit of credibility to that proclamation.

*Barbara Stymiest, Chief Operating Officer at RBC Financial Group, sits on RIM’s board of directors. RBC also makes a market in RIMM securities.