RIM delays BlackBerry 10, announces job cuts

The ailing smartphone maker reported a $518 million loss on Thursday.


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Washington Post: BlackBerry maker RIM posted its quarterly earnings on Thursday, and the report was full of bad news for the beleaguered Canadian firm. The company had a $518 million loss for the period, missing analyst expectations and driving its stock price lower. It also announced that, despite previous promises, it will not release the BlackBerry 10 update for its mobile operating system this year. In addition, RIM will slash 5,000 jobs, approximately 30 percent of its workforce.

Analysts say the end could be near for the troubled company. “RIM’s delay of BlackBerry 10 may leave the company so vulnerable that the new platform may never see the light of day,” predicted Brian White of Topeka Capital Markets.

Tags: earnings, smartphone, RIM, jobs, mobile operating system, BlackBerry 10

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