This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at http://www.bbc.co.uk/go/rss/int/news/-/news/business-17557177
The article has changed 7 times. There is an RSS feed of changes available.
| Version 0 | Version 1 |
|---|---|
| Blackberry-maker RIM reports $125m loss | Blackberry-maker RIM reports $125m loss |
| (40 minutes later) | |
| Blackberry manufacturer Research in Motion (RIM) has reported a quarterly loss, due in part to falling revenues on the back of weak smartphone shipments. | Blackberry manufacturer Research in Motion (RIM) has reported a quarterly loss, due in part to falling revenues on the back of weak smartphone shipments. |
| The Canadian company made a net loss for the three months to 3 March of $125m (£78m), compared with a profit of $934m a year earlier. | The Canadian company made a net loss for the three months to 3 March of $125m (£78m), compared with a profit of $934m a year earlier. |
| Revenues fell to $4.2bn from $5.2bn. | Revenues fell to $4.2bn from $5.2bn. |
| The firm also suggested it would refocus on the corporate market rather than on individual consumers. | |
| It also announced the resignation of former co-chief executive Jim Balsillie. | |
| Chief technology officer David Yacht will also be standing down. | Chief technology officer David Yacht will also be standing down. |
| Shipments of BlackBerry smartphones in the quarter fell to 11.1 million, down 21% from the previous three-month period. | Shipments of BlackBerry smartphones in the quarter fell to 11.1 million, down 21% from the previous three-month period. |
| Shipments of the company's PlayBook tablets hit 500,000, largely due to substantial discounting. | Shipments of the company's PlayBook tablets hit 500,000, largely due to substantial discounting. |
| For the full financial year, the company made a net profit of $1.2bn, down from $3.4bn in the previous year. | For the full financial year, the company made a net profit of $1.2bn, down from $3.4bn in the previous year. |
| The results were worse than analysts had expected and RIM shares fell sharply in after-hours trading. | The results were worse than analysts had expected and RIM shares fell sharply in after-hours trading. |
| Corporate focus | Corporate focus |
| RIM has struggled to keep up with rivals in the smartphone market, such as Apple's iPhone and handsets running on Google's Android operating system. | RIM has struggled to keep up with rivals in the smartphone market, such as Apple's iPhone and handsets running on Google's Android operating system. |
| It has also struggled to gain a foothold in the tablet market. | It has also struggled to gain a foothold in the tablet market. |
| Newly-appointed chief executive Thorsten Heins said the company would now focus on its traditional core market of corporate customers rather than on individual consumers as part of a strategy to turn the business around. | Newly-appointed chief executive Thorsten Heins said the company would now focus on its traditional core market of corporate customers rather than on individual consumers as part of a strategy to turn the business around. |
| "We plan to refocus on the enterprise business and capitalise on our leading position in this segment," he said. | |
| "We believe that BlackBerry cannot succeed if we tried to be everybody's darling and all things to all people. Therefore, we plan to build on our strength." | |
| Analysts said the company could continue to struggle until it became clear whether this turnaround plan would succeed. | |
| "They clearly have no fix on when this process will bottom, and until it really does, it's going to be very difficult for a lot of investors to come back in," said Eric Jackson at Ironfire Capital in New York. | "They clearly have no fix on when this process will bottom, and until it really does, it's going to be very difficult for a lot of investors to come back in," said Eric Jackson at Ironfire Capital in New York. |