Feeds

RIM profits nearly sliced in half

Blackberry maker circles the drain

Boost IT visibility and business value

Research in Motion’s shares have fallen sharply after the Blackberry maker reported that profits were down 47 per cent for its second quarter of the fiscal year.

Adjusted net income for the quarter was $497 million, down from $797 million this time last year. Revenue fell 15 per cent compared to last quarter, to $4.2 billion, and it was down 10 per cent from this time last year. The company’s cash reserves have fallen to $1.4 billion, after the company sent $1.5 billion on Nortel’s patent bundle.

“We successfully launched a range of BlackBerry 7 smartphones around the world during the latter part of the second quarter and we are seeing strong sell-through and customer interest for these new products,” read a canned statement from Jim Balsillie, Co-CEO at Research In Motion.

“Overall unit shipments in the quarter were slightly below our forecast due to lower than expected demand for older models. “We will continue to build on the success of the BlackBerry 7 launch to drive the business as we focus our development efforts on delivering the next generation, QNX-based mobile platform next year.”

PlayBook tablet sales were well below what the company would have liked, he said, with the firm selling 200,000 over the last three months compared to 500,000 in the previous quarter. Balsillie said that sales of the BlackBerry 7 phones have cut into PlayBook sales for the quarter, since demand for the new smartphones was strong.

They’ll need to be. Steve Ballmer has already announced his target of making Windows the third most popular mobile platform, the position currently held by RIM. But most notably, Apple and Android are squeezing the company's opportunities. ®

Build a business case: developing custom apps

More from The Register

next story
Video of US journalist 'beheading' pulled from social media
Yanked footage featured British-accented attacker and US journo James Foley
Kate Bush: Don't make me HAVE CONTACT with your iPHONE
Can't face sea of wobbling fondle implements. What happened to lighters, eh?
Caught red-handed: UK cops, PCSOs, specials behaving badly… on social media
No Mr Fuzz, don't ask a crime victim to be your pal on Facebook
Ballmer leaves Microsoft board to spend more time with his b-balls
From Clippy to Clippers: Hi, I see you're running an NBA team now ...
Online tat bazaar eBay coughs to YET ANOTHER outage
Web-based flea market struck dumb by size and scale of fail
Amazon takes swipe at PayPal, Square with card reader for mobes
Etailer plans to undercut rivals with low transaction fee offer
Assange™: Hey world, I'M STILL HERE, ignore that Snowden guy
Press conference: ME ME ME ME ME ME ME (cont'd pg 94)
Call of Duty daddy considers launching own movie studio
Activision Blizzard might like quality control of a CoD film
US regulators OK sale of IBM's x86 server biz to Lenovo
Now all that remains is for gov't offices to ban the boxes
prev story

Whitepapers

Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Top 10 endpoint backup mistakes
Avoid the ten endpoint backup mistakes to ensure that your critical corporate data is protected and end user productivity is improved.
Top 8 considerations to enable and simplify mobility
In this whitepaper learn how to successfully add mobile capabilities simply and cost effectively.
Rethinking backup and recovery in the modern data center
Combining intelligence, operational analytics, and automation to enable efficient, data-driven IT organizations using the HP ABR approach.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.