Apple (NYSE: AAPL) had better be ready because competition for the iPad is in the works. According to a Bloomberg news report, seen here RIM who makes the BlackBerry will be releasing a device in answer to the iPad as soon as this coming November. It appears that the name of the new device will be Blackpad and sources report that RIM has already secured the rights to blackpad.com. The Black pad is rumored to be very similar in size and design to the iPad and will connect mainly through Wifi but will also be compatible with the Blackberry phones for internet connection.

This year RIM has been struggling to keep up with Apple and as RIM’s stocks are significantly down Apple’s have risen 22% for the year. The iPad was an overnight success for Apple and RIM is working hard to catch up. It is expected that the Blackpad will be comparable in price to the iPad’s which run $499 and up. RIM also needs to be sure that the timing of the Blackpad release does not coincide with Aplle’s news of updates to the iPad. Rumor has it that Apple will be releasing an updated iPad sometime next year and RIMS needs their release to be before Apple’s announcement of such.

“Knowing Apple and its update practices, the iPad will be overhauled next spring, with an announcement about the new device coming as early as January 2011,” Zeman writes today. “RIM (and HP, LG, and Samsung) all need to field devices before Apple makes that announcement. If they don’t, they risk losing additional sales to Apple.”

It is also rumored that the Blackpad will have a key feature that some have been wishing the iPad had. That is, front and rear cameras that will be compatible for videoconferencing.

RIM will be hosting in New York next week a conference. The company is expected to roll out a new Blackberry phone at the conference, the 9800 slider phone. This new device will be an answer to the iPhone with similar features like a touch screen and a pull out keyboard. It is also rumored that these new phones could come complete with a much anticipated new operating system.

While RIM just may be the company to really offer Apple some completion, only time will tell. They certainly have an uphill battle ahead of them.

Resources:
http://forms.theregister.co.uk/mail_author/?story_url=/2010/07/30/rim_blackpad/
http://www.csmonitor.com/Innovation/Horizons/2010/0730/What-is-the-RIM-Blackpad