Menu
RIM earnings plummet; new CEO to consider licensing

RIM earnings plummet; new CEO to consider licensing

The company also announced that former co-CEO Jim Balsillie will give up his seat on the board

Revenue and sales continue to shrink at Research In Motion as the company struggles to stay relevant before it launches a new smartphone platform.

On Thursday, the company reported results for its fiscal fourth quarter ended March 3. It also announced additional personnel changes, including that Jim Balsillie, former co-CEO of the company, has given up his board seat. Balsillie and company founder Jim Lazaridis recently handed over their positions as co-CEOs to Thorsten Heins, who had been chief operating officer.

For RIM's fourth quarter, revenue dropped 25 per cent from the previous year to $US4.2 billion. It recorded a net loss of $125 million, or $0.24 per diluted share.

RIM shipped 11.1 million phones in the fourth quarter, 21 per cent fewer than in the third quarter. It also shipped 500,000 PlayBook tablets. That's up from just 150,000 in the third quarter.

In a statement, Heins said he is now considering new strategic opportunities to right the company, including partnerships, joint ventures and even licensing.

Heins is soon expected to oversee his first conference call with analysts to discuss an earnings report since he took over the helm in January.

RIM continues to suffer under pressure from newer entrants to the smartphone market, including iPhone and Android devices. It is in the midst of a transition to a new operating system that will run both its phones and its PlayBook tablets. The first phones running the operating system will come out in the "later part" of 2012, RIM said in December, which is later than originally expected. It blamed the delay on a decision to use a more advanced chipset that won't be available until the middle of the year.

Nancy Gohring covers mobile phones and cloud computing for The IDG News Service. Follow Nancy on Twitter at @idgnancy. Nancy's e-mail address is Nancy_Gohring@idg.com


Follow Us

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Featured

Slideshows

Meet the leading female front runners of the Kiwi channel

Meet the leading female front runners of the Kiwi channel

Reseller News honoured the leading female front runners of the New Zealand channel at the 2018 Women in ICT Awards (WIICTA) in Auckland. The awards honoured standout individuals across seven categories, spanning Entrepreneur; Innovation; Rising Star; Shining Star; Community; Technical and Achievement.

Meet the leading female front runners of the Kiwi channel
Meet the top performing customer-centric Microsoft channel partners

Meet the top performing customer-centric Microsoft channel partners

Microsoft honoured leading partners across the channel following a year of customer innovation and market growth in New Zealand. The 2018 Microsoft Partner Awards recognised excellence within the context of the end-user, spanning a host of emerging and established providers.

Meet the top performing customer-centric Microsoft channel partners
Reseller News launches new-look Awards at 2018 Judges’ Lunch

Reseller News launches new-look Awards at 2018 Judges’ Lunch

Introducing the Reseller News Innovation Awards, launched to the channel at the 2018 Judges’ Lunch in Auckland. With more than 70 judges now part of the voting panel, the new-look awards will reflect the changing dynamics of the channel, recognising excellence across customer value and innovation - spanning start-ups, partners, distributors and vendors.

Reseller News launches new-look Awards at 2018 Judges’ Lunch
Show Comments