RIM endured a brutal fiscal Q4. Will the new BlackBerry 10 OS be enough to save the Canadian tech giant?
Research In Motion reported yesterday on its fiscal fourth quarter results, and the results aren't good: revenue plummeted 19 percent to $4.2 billion, global sales dropped 21 percent to 11.1 million units, and in Q4 alone, the company lost $125 million. Meanwhile, Jim Balsillie, once the co-CEO of RIM – he was replaced by Thorsten Heins earlier this year – is stepping down from the board of directors.
RIM, of course, is the manufacturer of the BlackBerry line of smartphones, which for many years sold solidly in the US and abroad. But RIM has recently weathered a series of missteps, including the launch of its ill-fated BlackBerry PlayBook, and since last year, its market share has been slipping. So can RIM reverse course, and again viably compete in the smartphone wars?
Maybe. In a conference call with reporters yesterday, Heins, the new RIM CEO, said the company would seek to get back to its roots: devices that appeal to businesspeople, not the lay consumer. "We plan to refocus on the enterprise business and capitalize on our leading position in this segment," Heins said, according to IDG.