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

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.
Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

Nancy Gohring

IDG News Service
Show Comments

Brand Post

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Luke Hill

MSI GT75 TITAN

I need power and lots of it. As a Front End Web developer anything less just won’t cut it which is why the MSI GT75 is an outstanding laptop for me. It’s a sleek and futuristic looking, high quality, beast that has a touch of sci-fi flare about it.

Emily Tyson

MSI GE63 Raider

If you’re looking to invest in your next work horse laptop for work or home use, you can’t go wrong with the MSI GE63.

Laura Johnston

MSI GS65 Stealth Thin

If you can afford the price tag, it is well worth the money. It out performs any other laptop I have tried for gaming, and the transportable design and incredible display also make it ideal for work.

Andrew Teoh

Brother MFC-L9570CDW Multifunction Printer

Touch screen visibility and operation was great and easy to navigate. Each menu and sub-menu was in an understandable order and category

Louise Coady

Brother MFC-L9570CDW Multifunction Printer

The printer was convenient, produced clear and vibrant images and was very easy to use

Edwina Hargreaves

WD My Cloud Home

I would recommend this device for families and small businesses who want one safe place to store all their important digital content and a way to easily share it with friends, family, business partners, or customers.

Featured Content

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?