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post #61 of 1156 (permalink) Old 2012-06-05, 04:19 PM
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We have dropped 98% of our BB devices from our office. All iPhones and iPads. Not having to rely on a BB Enterprise Server (Professional Server in our case) was one of the driving forces. Exchange 2007 with built in Activesync works fine for our needs. Directors, Managers, Councilors, Mayors etc all love the iPhone after the initial learning curve and lack of physical keyboard.

I do hope RIM survives and BB10 is a success but I cannot see moving back to them unless something catastrophic happens with iOS or OS10 is mind-blowing.
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post #62 of 1156 (permalink) Old 2012-06-28, 05:42 PM
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Canadian Press is reporting a 5000 head layoff. (roughly 30%) Any company that eats its own young to that extent can only be prepping to liquidate shareholder value.

Even worse, CP reports that the new BB10 is delayed again until 2013. Thats it, they are done. They are offiicially the biggest gong show in the mobile industry.

TORONTO - Research In Motion Limited (TSX:RIM) said Thursday that it is cutting 5,000 jobs as it restructures it operations and that the launch of its much anticipated BlackBerry 10 smartphone will not happen until the beginning of next year.

The launch of the new smartphones, seen as key to the recovery of the company, had been expected later this year and will now miss the important holiday shopping season.

"I am not satisfied with these results and continue to work aggressively with all areas of the organization and the board to implement meaningful changes to address the challenges," said chief executive Thorsten Heins in a release.

"Our top priority going forward is the successful launch of our first BlackBerry 10 device, which we now anticipate will occur in the first quarter of calendar 2013."

The company announced the cuts and delays as it reported a loss of $518 million or 99 cents per share for its latest quarter. The loss compared with a profit of $695 million or $1.33 per share a year ago.

Revenue for the three months fell to $2.81 billion from $4.91 billion.

Excluding one-time items including a non-cash charge to goodwill, the company said it lost $192 million or 37 cents per share diluted.

During the quarter, RIM shipped 7.8 million BlackBerry smartphones and approximately 260,000 BlackBerry PlayBook tablets.

In its outlook, the company said it expects the next several quarters to continue to be very challenging for its business.

RIM said it expects to report an operating loss in the second quarter of fiscal 2013, as RIM continues to invest in marketing programs and continues to work through the transition to BlackBerry 10.

Last edited by 99semaj; 2012-06-28 at 05:53 PM. Reason: Removed reference to 500p report
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post #63 of 1156 (permalink) Old 2012-06-28, 05:50 PM
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What do you mean 20 mins - they reported at 4:19pm today - 23 minutes before your post. Loss of $0.37/shr, down 15% in after-hours trading.
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post #64 of 1156 (permalink) Old 2012-06-28, 06:23 PM
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The BB10 delay is painful. Add to that the 33% drop in revenue and the laying off of 5,000 jobs and it's not a pretty picture... far from pretty... more like brutally ugly.


Cash, cash equivalents, short-term and long-term investments increased to $2.2 billion at the end of the first quarter
Cash flow from operations was approximately $710 million in the first quarter
Revenue of $2.8 billion in Q1, down 33% from $4.2 billion in the prior quarter
GAAP net loss in Q1 of $518 million or $0.99 per share diluted; adjusted net loss of $192 million or $0.37 per share diluted
Shipments of BlackBerry smartphones were 7.8 million and shipments of BlackBerry PlayBook tablets were approximately 260,000
BlackBerry 10 smartphone launch now scheduled for Q1 of calendar 2013
Restructuring efforts underway that will include a workforce reduction of approximately 5,000 employees as part of RIM's efforts to realize over $1 billion in cost savings, based on RIM's Q4 FY2012 run rate
Launched World Tour BlackBerry Jam developer sessions in 23 countries resulting in strong adoption and support by application and developer partners for BlackBerry 10 platform
BlackBerry App World continues to grow with over 89,000 applications available
The overall BlackBerry subscriber base continued to grow, and the subscriber base grew in all regions except for North America
RIM names Steve Zipperstein, former General Counsel of Verizon Wireless, as Chief Legal Officer
I have a feeling tomorrow will be a very bad day for RIMM stock.

Sharp AQUOS Quattron LC-70LE732U + Cisco 9865HD | Panasonic TC-P42U1 1080p + Cisco 4642HD | BlackBerry Z10 / PlayBook
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post #65 of 1156 (permalink) Old 2012-06-28, 06:31 PM
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That's 5000 on top of the 2000 already done. Trading is halted for now, but it will be a bloodbath. Thank goodness my Fortune 50 employer is starting to offer iOS.
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post #66 of 1156 (permalink) Old 2012-06-28, 06:37 PM
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Trading was halted ahead of the announcement, which is standard procedure. Markets are closed now so we'll see when it resumes in the morning. After hours trading has it down 16% already. Eek.

Sharp AQUOS Quattron LC-70LE732U + Cisco 9865HD | Panasonic TC-P42U1 1080p + Cisco 4642HD | BlackBerry Z10 / PlayBook
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post #67 of 1156 (permalink) Old 2012-06-28, 07:33 PM Thread Starter
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I've been optimistic before that RIM could pull through, but after this announcement I really don't see much of a future for them. I do have a PlayBook, and while it's a good tablet overall, they are now going to have more competition in the ~$200 space (don't think the Nexus 7 will be the only one). They've talked about releasing a 4G-compatible version, but that just wouldn't make sense (they probably wouldn't sell enough of them to make it worthwhile; given the lackluster sales of the current models).

With the delay of BB10 until Q1 2013 (which may as well be interpreted as "March 2013" I think RIM is in serious trouble. BB10 has been their last hope, and by delaying it this far (again), I don't think investors are going to wait again. Originally it was going to be last year, then they pushed it to Fall 2012, and now Q1 2013. With how little has actually been showcased of BB10, I really wonder how far along (or not) they really are.

Sadly, I think my PlayBook & Curve 9360 are going to be abandoned by me pretty quick. I'll have to look at my options carefully to determine which tablet & phone to replace them with, but it is going to happen.
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post #68 of 1156 (permalink) Old 2012-06-28, 08:05 PM
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^^I know how you feel. Sad that it has come to this.

I'm a BlackBerry guy, but after hearing the news on the radio today, I know RIMM is done. That was the final straw. Consider:

- BB10 will be released way after Christmas (and thereby losing a huge opportunity)
- iPhone 5 is being released in October I believe.

BlackBerry is now officially off the table as my next device.

Panasonic TC-P50G10 - Yamaha YSP 2200 - Sony PS3 Slim 250gb - Nintendo Wii - WD TV Live

Last edited by Cyclism; 2012-06-28 at 08:06 PM. Reason: Removed unnecessary quote.
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post #69 of 1156 (permalink) Old 2012-06-28, 08:26 PM
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The reality is, the BoD will not likely permit further dev on PB given that they wrote off hundreds of millions to liquidate the piddly amount sold to date.

I'm sure Heins has already been instructed to harvest RIMMs organs.

Prediction: MSFT will overpay for the IP (thats what a company with more cash than talent does), nobody buys the handset division and the networking assets go for a modest price.
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post #70 of 1156 (permalink) Old 2012-06-28, 08:32 PM
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With the delay of BB10 until Q1 2013
Apple will 2 new iPhone models released by then. RIM is like the Titanic after it hit the iceberg. All that's left is to for RIM to sink into an icy grave, sucking those with no life rafts down with it.

At 20 I had a good mind. At 40 I had money. At 60 I've lost my mind and my money. Oh, to be 20 again. --Scary
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post #71 of 1156 (permalink) Old 2012-06-28, 09:13 PM
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They may be laying off another 5000 but those remaining will probably being trying to head for the exits as well. Jim Balsillie and Mike Lazaridis set a course directly at the iceberg and at full throttle; somehow they thought the iceberg would melt or get out of the way. There wasn't enough stopping distance nor was there enough room to navigate around it in the end

I feel sorry Thorsten but wait there are those new deck chairs, oops they are still on backorder.

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post #72 of 1156 (permalink) Old 2012-06-29, 02:33 AM
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it's amazing how similar to the nortel crash and burn this was

almost as amazing to watch a company that produced a product that was ahead of everyone else, essentially killing the PDA market, and then getting wtfpwned by prettier devices that eventually replicated everything the BB could do, and then left them in the dust
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post #73 of 1156 (permalink) Old 2012-06-29, 02:33 AM
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on a somewhat hilarious tangent, we've been using android handsets for a bit now, and we're now moving to blackberry's

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post #74 of 1156 (permalink) Old 2012-06-29, 02:35 AM
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On similar tangent, we divested ourselves of Blackberries. All 6000 or-so employees.
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post #75 of 1156 (permalink) Old 2012-06-29, 08:19 AM
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Too bad for RIM, but it is a classic example similar to Nortel in their downfall. It never helps that their backbone went down in selected areas around the world for days.

Their app support was too little too late. The playbook was a disaster.
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