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| Blackberry-maker RIM reports $125m loss | Blackberry-maker RIM reports $125m loss |
| (about 2 hours 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. | 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. | 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. |
| Shares in the company fell as much as 9% in after-hours trading following the trading statement. They have fallen by 80% over the past year. | Shares in the company fell as much as 9% in after-hours trading following the trading statement. They have fallen by 80% over the past year. |
| 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. |
| It's been a disastrous couple of years for Research in Motion, the Canadian firm whose Blackberry device became the must-have gadget for ambitious professionals. | It's been a disastrous couple of years for Research in Motion, the Canadian firm whose Blackberry device became the must-have gadget for ambitious professionals. |
| The arrival of Apple's iPhone and then Android phones using Google software left the Blackberry looking old-fashioned - profits suffered and the men at the top resigned. | The arrival of Apple's iPhone and then Android phones using Google software left the Blackberry looking old-fashioned - profits suffered and the men at the top resigned. |
| Now, after unveiling another big loss, the new chief executive Thorsten Heins, has announced that the firm return to a focus on business customers. | |
| The free BBM messenger service has made the Blackberry popular with teenagers - it was even blamed by some for helping coordinate riots in London last year. | The free BBM messenger service has made the Blackberry popular with teenagers - it was even blamed by some for helping coordinate riots in London last year. |
| But Thorsten Heins said the firm could not succeed if it tried to be everybody's darling, and would now return to its roots. | But Thorsten Heins said the firm could not succeed if it tried to be everybody's darling, and would now return to its roots. |
| 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 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." | "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. | 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. |