Arab Today, arab today rim plunges after grim quarterly report
Last Updated : GMT 15:47:33
Arab Today, arab today
Arab Today, arab today

RIM plunges after grim quarterly report

Arab Today, arab today

Arab Today, arab today RIM plunges after grim quarterly report

New York - AFP

Research in Motion shares plunged Friday a day after the BlackBerry maker\'s bleak earnings report and the delay in its new smartphone platform raised fresh fears about its survival. RIM shares tumbled 19 percent to close at $7.39, their lowest level since 2003, and down more than 90 percent from their 2008 highs. Analysts said the news from RIM was deeply disappointing -- not only did the Canadian firm report a widening loss of $518 million, but it also said it would cut 5,000 jobs and delay its important BlackBerry 10 platform until early 2013. The BB10 had been RIM\'s effort -- a last-ditch bid, according to some analysts -- to regain traction after losing ground to Apple and smartphone makers using the Google Android platform. \"RIM\'s prospects appear to be turning from bad to worse,\" said Tal Liani, a research analyst at Bank of America/Merrill Lynch. \"In our view, the risk of total value destruction over the next few years is possible as at this point we cannot see the light at the end of the tunnel.\" Other analysts said the price had fallen so low, that the company might extract some value by selling itself or parts of the company, such as its patents. \"With increased competition and a very low probability the market will support RIM\'s new mobile computing ecosystem, we believe RIM will need to sell the company,\" said Michael Walkley and the investment firm Canaccord Genuity. He said the company could be worth $8 a share based on a \"sum-of-the-parts analysis.\" A survey by the research firm IDC showed smartphones powered by Google\'s Android software accounted for 59 percent of the global market in the first quarter of 2012, with 23 percent for Apple\'s iPhones. That left just 6.4 percent for BlackBerry, compared with 13.6 percent a year ago. In the US market, only around five percent of smartphone buyers opted for BlackBerry in early 2012, according to a Nielsen survey.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today rim plunges after grim quarterly report Arab Today, arab today rim plunges after grim quarterly report

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today rim plunges after grim quarterly report Arab Today, arab today rim plunges after grim quarterly report

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
Arab Today, arab today Seeks to move past rift with Israel

GMT 08:00 2017 Monday ,08 May

Seeks to move past rift with Israel
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Girl barred from Malaysia chess competition

GMT 09:49 2017 Tuesday ,02 May

Girl barred from Malaysia chess competition
Arab Today, arab today Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday