Blackberry record sales below expectations

Research In Motion will need much more to offer on the day of their 26th birthday, to convince an increasingly sceptical Wall Street with the future of the company before the onslaught of Apple and Google in the business of mobile
devices.

The company failed again after reporting a loss of $ 125 million in the quarter. Sales fell 25% to 4,190 million and its price more than 8% after their disappointed results.

RIM ended the fourth quarter of fiscal 2012 on 3 March, during which it sold 11.1 million phones and a half million tablets Playbook. However, the Sales are well below expectations for now. For the full year, their sales fell to
18.435 million and reduced their profit to 1.164 million. He also announced that their former CEO Jim Balsillie leaves the board after the situation.

RIM, meanwhile have also parted company with chief technology officer, David Yach, and the company’s director of operations, Jim Rowan. The company’s stock highly declined to 8% after presenting the results.

They are the first results presented by the Canadian company since Thorsten Heins took the charge as CEO as on 22 January. The German-born executive failed to meet high expectations in a bid to change the fortunes of the company
and to address the growing market competition by taking the Blackberry mobile business to further limits.

RIM, at the moment, is developing the tenth version of the OS for their phones and tablets, which will launch later this year. Earlier in May, they had presented the prototype devices that work on the new platform.

However, they failed to get convincing results or response at the Wall Street after the company’s stock value dropped 75% in one year, despite having recovered almost 10% from the minimum that marked a few weeks ago.

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Posted by Farasat Ali on Mar 30 2012. Filed under Sci-Tech. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry