Saturday, July 24, 2021

BlackBerry Maker in Turmoil

Wall Street Journal: For its fourth fiscal quarter, BlackBerry-maker RIM reported a loss of $125 million, down from income of $934 million the previous year. Revenue fell 25 percent year-over-year, hitting just $4.19 billion. Sales were down 21 percent, as the company shipped 11.1 million smartphones and only 500,000 of its PlayBook tablets.

As a result, RIM CEO Thorsten Heins is making some major changes. First, former CEO Jim Balsillie will leave his seat on the company’s board. COO Jim Rowan and CTO David Yach will also depart. In addition, the company will stop trying to acquire more consumer customers and instead focus on its core of enterprise users.

Heins also said he was open to considering a sale of the company. Unnamed sources say Microsoft and Nokia have previously discussed making a joint bid for the struggling mobile device maker.

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