News by Andrew Kameka on Thursday December 20, 2012.
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Research In Motion continued its sliding streak in the third quarter of its fiscal year 2013, reporting a net loss of $114 million ($0.22 per share). The struggling Canadian manufacturer managed to maintain about 79 million global users based on shipping 6.9 million smartphones and 255,000 BlackBerry PlayBooks in the quarter. However, those shipments did not lead to enough sales for the company to break its four-quarter streak of spending more money than the company generates.
RIM reported $2.7 billion in revenue during the most recent quarter, which was down 5 percent from the $2.9 billion the company earned during the same period last year. While the challenges have stacked up against RIM, this will likely be the last quarter before the company launches its BlackBerry 10 operating system and line of devices. RIM has announced that it will debut its BlackBerry phones on January 30, and several big clients have already begun testing BB10 ahead of its launch early next year. While BlackBerry 10 is not expected to immediately reverse the trend of users migrating from BlackBerry to Android devices or Apple's iPhone, the new operating system and product line could provide a sorely needed sign of progress in CEO Thorsten Hein's efforts to spark a rebound for RIM.source: RIM (PDF)
Andrew is based in Miami, Florida.