Research in Motion’s stock price (RIMM) closed down about 10% yesterday on news that, among other things, BlackBerry Pearl Flip sales, thus far, have been tepid at best.

To make a long story short, RIM, in my opinion, botched the release of the BlackBerry Pearl Flip by setting the price about $100 too high. This device shouldn’t cost more than $50 and, to be completely honest, should probably be free with a long term contract.

The fact that this thing will cost you 200 bucks, the same as an iPhone before a $50 mail-in rebate, simply gives it no chance to truly compete. The Pearl Flip isn’t even as compelling as some of the other BlackBerrys out right now that are $50 or cheaper with contracts.

RIM simply has to get better with BlackBerry releases…