Saturday, October 6, 2012

RIM posts another large quarterly loss

6:11 AM | Posted by ProJ | | Edit Post

Canadian company continues to lose market share for iPhones and Android devices

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In Motion, the maker of BlackBerry smartphones, has announced another big quarterly loss on Thursday, but the deficit was not as bad as expected.

Canadian society is losing market share in North America, where it's hard to compete with Apple's iPhone and phones running Google's Android software. However, the increase in sales in developing markets and increased its subscriber base and the cash position.

Stock

RIM rose more than 19% in trading on the secondary market after the news.

  • The company said it lost $ 235 million (£ 144m), or 45 cents per share, for its second fiscal quarter, ended September 1.
  • That compares with a profit of $ 419 million, or 80 cents per share, a year earlier. RIM reported revenue of $ 2.9 billion.
  • Analysts expected a loss of 47 cents on revenue of $ 2.49bn.

RIM said it shipped 7.4 million BlackBerry smartphones in the quarter, up from 10.6 million in the same period last year. Some analysts have predicted could only send 6.4 million RIM devices, the company is preparing to launch new BlackBerry very late that were considered essential to their survival.


RIM launched the smartphone in 1999, but U.S. consumers have abandoned BlackBerry mobile to hit the last few years.


RIM (Research in Motion)


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