RIM report poor quarterly income – Jobs will be cut

Research In Motion reported disappointing results this quarter with net income for the company behind the Blackberry mobile phone range, dropping to $695-million from the previous quarter’s $974-million – that’s a staggering $279-million plummet.

RIM look set to cut costs and unfortunately a number of jobs are for the axe, but the company remains optimistic that future releases will set them on the right track again – with the Blackberry PlayBook just released and a new series of touchscreen handsets on the way. It could be likely that the dedicated fandom and loyalty of Blackberry owners could be waiting on a refresh of the range of gadgets available to reinvigorate interest in a market where Apple and Android devices are running rule.

RIM co-CEO Jim Balsillie – Optimistic.

RIM’s co-CEO Jim Balsillie states “Fiscal 2012 has gotten off to a challenging start. The slowdown we saw in the first quarter is continuing into Q2, and delays in new product introductions into the very late part of August is leading to a lower than expected outlook in the second quarter.”

A difficult year so far for RIM – who will be hoping that the Blackberry PlayBook will signify a turnaround in profits before the year is out.

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