RIM's Revenue Drops; BlackBerry 10 Still Set for January 30 Release
BlackBerry manufacturer Research In Motion (RIM) has just released its third-quarter (three months prior to December 1, 2012) numbers for the year, and some things are not good. RIM posted a five percent revenue drop from last quarter to $2.7 billion and an adjusted net loss of $114 million. There are some positives, however, like a GAAP net income of $14 million ($9 million after adjustments from "discontinued operations"). The company also shipped 6.9 million BlackBerry phones and 255,000 PlayBook tablets, while the subscribers dropped a little from last quarter to 79 million. There was a bigger loss in subscribers in North America, which is to be expected given the popular of Android and Apple devices.
RIM's Chief Information Officer, Robin Bienfait, has decided to retire, though she'll stay on as an advisor to help with the transition. CEO Thorsten Heins said that despite the revenue drop, BlackBerry 10 is still scheduled for release on January 30, 2013. The company will start to increase its "marketing spending" to prepare for the launch of the new OS, and hopefully show off the first device or devices running it. However, that marketing push should result in another loss as people hold off on buying a new BlackBerry until the reveal.