RIM Reports operating loss, jobs to go

RIM Reports operating loss, jobs to go

Overnight Research In Motion (RIM) announced “significant” job cuts and has warned it will make a loss in the latest quarter.


Chief Exec, Thorsten Heins, stated that…

The on-going competitive environment is impacting our business in the form of lower volumes and highly competitive pricing dynamics in the marketplace.

Roughly translated, this means that Android and iPhone handsets are starting to chip into the traditional business market that BlackBerry held so well. I remember seeing more and more companies requesting iPads and iPhones for “business use” last year and knew that it meant trouble for RIM. If Directors are finding that they can use an iPhone to get their mail AND impress their friends, why buy a BlackBerry?

Share in RIM have dived following the news, hitting $9.50 at one point. Stock has already lost 74% of its value during the last year.

Link – RIM Press

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