RIM report fourth quarter 2012 result - $125 million loss
By Tan Ming Sin
30 March 2012 – Research In Motion (RIM) has just announced their fourth quarter result for the past three months and the fiscal year which ended March 2012. Revenue for the fourth quarter of 2012 was $4.2 billion, down 19% from $5.2 billion in the previous quarter and down 25% from $5.6 billion in the same quarter of 2011. During the quarter, RIM shipped approximately 11.1 million BlackBerry smartphones, a 20% drop from the previous quarter. On the GAAP sheet, the company reported a total $125 million loss in Q4. Due to the weak sales, RIM says that they will not be providing specific quantitative guidance in their upcoming quarters.
(Pix credits to TheVerge)
Thorsten Heins, President & CEO of Research In Motion said, "I have confirmed that the Company has substantial strengths that can be further leveraged to improve our financial performance, including RIM’s global network infrastructure, a strong enterprise offering and a large and growing base of more than 77 million subscribers. I'm very excited about the prospects for the BlackBerry 10 platform, which is on track for the latter part of calendar 2012. Notwithstanding these strengths and opportunities, the business challenges we face over the next several quarters are significant and I am taking the necessary steps to address them."