Worse not worst

30 Mar 2012 By Robert Cyran Follow @rob_cyran

After losing $70 bln of market value in less than four years, the BlackBerry maker’s latest results horrified again. Sales tumbled, margins fell, inventories rose and more executives left. Its next operating system or a sale might provide salvation. But those seem like longshots.

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Research In Motion on March 29 reported sales of $4.2 billion for the latest quarter, a decline of 25 percent compared to the same period last year.

The BlackBerry maker lost $125 million for the quarter ended March 3. The firm took a $355 million pre-tax charge for goodwill impairment and a $267 million writedown on inventory for phones running the BlackBerry 7 operating system it introduced last year.

Jim Balsillie, former co-chief executive of the company, resigned as a director on the company’s board. In addition, David Yach will retire as chief technology officer, software and Jim Rowan, chief operating officer, global operations has also resigned.

Thorsten Heins, appointed chief executive in January, said the firm was undertaking a review of its “strategic opportunities including partnerships and joint venture, licensing, and other ways to leverage RIM’s assets and maximize value for our stakeholders.”

Context News

Research In Motion on March 29 reported sales of $4.2 billion for the latest quarter, a decline of 25 percent compared to the same period last year.

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