RIM's shares have been dropping significantly
According to RIM (Research in Motion) the Blackberry 10’s launch date will be pushed back to a 2013 with a total of 5000 job cuts.
Over the recent years RIM has been struggling to keep up with its rivals in the smartphone market, including Apple’ iPhone and Android operating phones.
In the last three months RIM had reported to have had a net loss of $518m compared to last year where they had a profit of $695m in the same period last year. Since the start of the year it wasn’t looking good for RIM, their revenue in the first quarter dropped 43% to $2.8 billion.
RIM had hopes of a comeback with the new Blackberry 10 but now it looks like it will be shipped out early next year even though it was expected to be released later this year.
Thorsten Heins the boss of RIM said,
“I am not satisfied with these results and continue to work aggressively with all areas of the organisation and the board to implement meaningful changes to address the challenges, including a thoughtful realignment of resources and honing focus within the company on areas that have the greatest opportunities. Our top priority going forward is the successful launch of our first Blackberry 10 device, which we now anticipate will occur in the first quarter of calendar 2013.”
The company is starting to dip in the red and it looks as if it’s going to continue.
With the Blackberry 10 releasing early next year who knows if it’s going to be a hit.
