News Update :

Blackberry in trouble

Sunday, July 1, 2012

BlackBerry maker Research in Motion (RIM) is now in a struggle for survival after its latest quarterly report underscoring its deteriorating position against other smartphone makers, analysts say. The firm, which is headquartered in the ironically named city of Waterloo, Ontario, appears on shaky ground. Not only did RIM report a widening loss of $518 million and steep slump in sales, but it also said it would cut 5,000 jobs, nearly one-third of its staff, and delay its important BlackBerry 10 platform until early 2013. The BB10 had been RIM's effort--- a last-ditch bid, according to some analysts--- to regain traction after losing ground to Apple and smartphone makers using the Google Android platform. RIM shares tumbled 19 percent to close Friday at $7.39, their lowest level since 2003.

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