BlackBerry Maker RIM Posts Loss; Cutting 5,000 Jobs
Thu, 06/28/2012 - 16:15 EDT - NPR - National Public Radio (Business News)
BlackBerry maker Research in Motion Ltd. posted worse results for its latest quarter than analysts had expected. It's cutting 5,000 jobs and delaying the launch of its new phone operating system, BlackBerry 10, on which it's pinning its hope for a comeback.» E-Mail This» Add to Del.icio.us
TORONTO — Struggling BlackBerry maker Research in Motion is reporting worse results than analysts had expected for its latest quarter, and says it’s cutting 5,000 jobs. It’s also delaying the launch of its new phone operating system, BlackBerry 10, on which it’s pinning its hope for a comeback. Research in Motion Ltd.
Executives from the BlackBerry maker Research In Motion (RIM) were grilled Tuesday by investors over the company's recent dismal performance. RIM has announced massive layoffs and its shares are trading at a nine year low. With the launch of the BlackBerry 10 delayed until next year, RIM's survival is considered to be at stake.
Research In Motion, the maker of Blackberry smart phones, used to be a dominant player. Now, it's looking like an also-ran. The company announced a management shake-up Monday, but the new guy won't have much time to pull off a turnaround.» E-Mail This » Add to Del.icio.us
Research in Motion Ltd. says its PlayBook, with a 7-inch screen and two cameras, is set to launch in early 2011. RIM, which did not announce the price, is betting on a smaller, lighter device than Apple Inc.'s iPad, which kicked-started the tablet market when it launched in April.» E-Mail This » Add to Del.icio.us