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Old June 28, 2012, 02:32 PM
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chrisk chrisk is offline
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Default RIM lost $518m 1st qtr 10 times estimate. BB 10 delayed 2013, cuts 5000 jobs [Star]

All I got to say is wow....

Struggling BlackBerry maker Research in Motion revealed Thursday that it had lost $518 million in its fiscal first quarter, is going to cut 5,000 jobs, and is pushing back the expected launch of its BB10 operating system until early next year.
RIM shares plunge almost 18 per cent on news of $518 million loss, 5,000 job cuts, delay of BB10 to 2013 -

I have always said things were not as bad as the doomsayers have said regarding RIM, but the BB 10 delay until after the holiday season gotta hurt pretty bad.

Edit: additional details at Mobile Syrup:
Unfortunately, the report noted that the BlackBerry 10 smartphone launch is “now scheduled for Q1 of calendar 2013.” Curious about the reason? Well, it comes down to coding. RIM said their “software development teams have made major progress in the development of key features for the BlackBerry 10 platform; however, the integration of these features and the associated large volume of code into the platform has proven to be more time consuming than anticipated.”
RIM Q1 Fiscal 2013 results: |
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