BlackBerry maker RIM revenue falls; reports $125m loss
London: BlackBerry manufacturer Canadian company Research in Motion (RIM) has reported a $125m loss during first quarter.
According to report, the company’s revenue has fell to $4.2bn from 5.2bn due in part to falling revenues on the back of weak smartphone shipments.
The firm also suggested it would refocus on the corporate market rather than on individual consumers.
Shares in the company fell as much as 9 percent in after-hours trading following the trading statement. They have fallen by 80 percent over the past year.
RIM’s shipment numbers also took a significant hit. The company said it shipped 11.1 million units over the three-month period, which is down 25 percent from the 14.1 million it shipped in the third quarter. The company reported 500,000 shipments of its struggling PlayBook tablets.
For the full financial year, the company made a net profit of $1.2bn, down from $3.4bn in the previous year.
The results were worse than analysts had expected and RIM shares fell sharply in after-hours trading.
Source http://www.thenewstribe.com
