1. Latest News
  2. Submit Press Release
Wert-Berater Logo

Blackberry's RIM in bad shape

Wert-Berater, Inc. is a provider of economic studies, feasibility studies, market studies, and more for global developers, manufacturers, alternative energy, and bankers. Reach us at 1-888-661-4449, and visit our website at www.wert-berater.com.

June 17, 2011 - PRLog -- Research in Motion (RIM), which makes Blackberry phones, has missed even its lowered profit forecasts and lowered its predictions for the full year.

RIM made a net profit of $695m (£430m) in the three months to 28 May, down from $769m in the same period last year.

It warned in April that its profits would be low because of lower shipments of its Blackberry phones.

RIM has announced a cost-cutting programme, which will include job cuts.

"Fiscal 2012 has gotten off to a challenging start," said Jim Balsillie, joint chief executive of RIM.

"The slowdown we saw in the first quarter is continuing into Q2, and delays in new product introductions into the very late part of August is leading to a lower than expected outlook in the second quarter."

The company's shares fell sharply in after-hours trading and had to be suspended briefly.

"The guidance was just awful. The devices are receiving less shelf space and less support from carriers," said Peter Misek at Jefferies and Co in New York.

"People are not waiting. They're going to other platforms."

Source:  BBC News Online

# # #

Wert-Berater, Inc. is a diversified global consulting firm. Our business is centered upon feasibility, highest and best use, and market studies in a broad range of sectors, including development, manufacturing, agriculture, finance, and energy.

--- End ---

Click to Share

Contact Email:
***@wert-berater.com Email Verified
Location:Denver - Colorado - United States
Industry:Technology, Business, Consumer
Tags:Rim, BLACKBERRY, Apple, Nokia, Google, Smartphone, Feasibility Study, Feasibility Studies
Verified Account Email Address

Disclaimer:   Issuers of the press releases are solely responsible for the content of their press releases. PRLog can't be held liable for the content posted by others.   Report Abuse

Latest Press Releases By “


Trending News...

Like PRLog?
Click to Share