RIM lost $518m 1st qtr 10 times estimate. BB 10 delayed 2013, cuts 5000 jobs [Star]
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June 28, 2012, 03:07 PM
Join Date: Jul 2008
Location: GTA, Ontario
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Originally Posted by
Now might be the right time to buy, or maybe hold off a little until the shares drop even further.
I suspect a major comeback will be in the works for RIM. They're (strangely) following the path Apple did 20 years ago (sorta)
I have been saying that for a while on these forums and in real life.
$500 million loss? No biggie as they have cash on hand. Per quarter is tough, but something they can withstand as long as its stops soon.
5000 laid off? get smaller and nimble I guess (sucks to be one of those laid off, apologies to anyone reading this wo works there, but RIM can survive that easily if the cuts are done right).
BB 10 getting delayed to Q1 2013? This is very bad in my books. Every month delayed is another 3 year contract/upgrade customer lost, and the will also miss out on this Xmas season. This means lost big-time revenue for the rest of 2012 (while Samsung/Android and Apple get all the press), and long-term people moving to other ecosystems.
RIM built up BB10 so much, they have really set themselves up for a fall.
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