I have been on the record since before the iPhone was announced that it would compete with the BlackBerry much more than many people think it will and today Needham analysts John Lynch and Charlie Wolf “assert that the introduction of the Apple iPhone clouds the prospects for Research in Motion’s first phone targeted at the consumer market, the Blackberry Pearl.

In plain english this means that guys looking at the mobile phone industry at Needam feel that the iPhone will give consumer oriented BlackBerry devices some real competition. Needless to say, Needham has lowered it’s rating on RIM (RIMM) from Buy down to Hold.

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