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RIM warns of loss for Q1, hires JP Morgan and RBC Capital Markets to help with strategic review

engadget
Tuesday, 29 May 2012

RIM announced last quarter that it would no longer be providing its traditional financial guidance for upcoming quarters, but CEO Thorsten Heins has nonetheless seen fit to deliver a "business update" today that offers some indication of what's in store for the company. The headline is that it's unsurprisingly projecting an operating loss for the next quarter (Q1 of its 2013 fiscal year), although it's not saying exactly how much, noting only that the "on-going competitive environment is impacting our business in the form of lower volumes and highly competitive pricing dynamics in the marketplace." The company's also confirmed that it has hired JP Morgan and RBC Capital Markets to aid in its so-called strategic review, which it says includes "opportunities to leverage the BlackBerry platform through partnerships, licensing opportunities and strategic business model alternatives." On the slightly brighter side of things, RIM was able to boast that it now has a worldwide subscriber base of 78 million, and that it now counts 80,000 BlackBerry apps and 15,000 PlayBook apps -- both significant increases from a year ago. It also further notes that BlackBerry 10 remains on track for the "latter part of calendar 2012." You can find the company's complete statement after the break.

Continue reading RIM warns of loss for Q1, hires JP Morgan and RBC Capital Markets to help with strategic review

RIM warns of loss for Q1, hires JP Morgan and RBC Capital Markets to help with strategic review originally appeared on Engadget on Tue, 29 May 2012 16:53:00 EDT. Please see our terms for use of feeds.
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