Friday, April 19, 2024

RIM Delays New Phone Launch, Takes a Hit on Tablets

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Computerworld: More bad news for RIM: the Canadian mobile device manufacturer won’t release its new line of smartphones in the first quarter of next year. Instead, RIM has delayed launch until the “later part” of the year. In addition, the company reported just $265 million in net income for the most recent quarter, down from $911 million in 2010. Some of the loss was due to a $485 million inventory-related charge stemming from poor sales of its PlayBook tablet.

After the disappointing earnings report, RIM shares fell to their lowest level in nearly eight years.

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