Earlier this evening, we talked about how RIM will concede in most of the consumer markets out there as part of the attempt to stem further losses, and that move will only bear fruit in the next quarter. As for the current quarter, we are talking about a whopping $125 million loss, no thanks to weak smartphone shipments as well as falling revenues that seem to be extremely sensitive to the earth’s gravitational pull. This is in stark contrast to RIM’s profit of $934 million just one year ago. Revenues for the company also dropped to $4.2 billion from $5.2 billion. RIM looks set to refocus on the corporate market instead of individual customers, and there has been one casualty so far among the top management – former co-chief executive Jim Balsillie has resigned in addition to chief technology officer David Yacht stepping down as well. Hopefully RIM will be able to pick themselves up from here, as it would be a real shame to see the company eventually peter out and die simply because they failed to adapt to the new environment.
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