Everybody knows Blackberry is in all kinds of Trouble. Profits are down, users are fleeing by the thousands per day and new products are nowhere to be seen. If you thought that sounded bad, wait until the earnings statement I am about to share with you.
To put this into perspective RIM expected to post a loss of 3 cents per share on revenue of $3.1 billion. Instead the loss was 37 cents per share on just $2.8 billion in revenue. Shipments last quarter were 11 million. This quarter is down to 7.8 million. The company only shipped out 26,000 Playbooks which is about half of what they sold in the same time frame last quarter.
Think it couldn’t get worse? Hold on. Now RIM is reporting that the new OS 10 that Crackberry community advocates were hoping would save the company has been delayed until 2013. That means no shiny new OS to try to sell through the holiday season. There is no reason for anyone to buy a Blackberry any longer. I imagine shipments will dip to around 5 million this coming quarter and the company may not even make it until BB10 shows up next year. RIM also announced the layoffs of 5000 proud Canadians to boot. The company has cut its manufacturing building from 10 to 3 and is now using a third party for repairs. I cannot think of one good thing to say about this company right now, other than thank you. RIM paved the way for the smartphone and was ahead of it’s time at one point. Now they are so far behind they might as well just close everything down until BB10 and some mind blowing device can be turned out by it’s engineers.
Category: Tech News
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Co-owner and Editor-in-Chief of GizmoNinja.com.
During the day I work in graphic design and also do photography. By night I try to play with programming and code of all different types. I love the opportunity to write for the site and hope to see it grow as time goes on.