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June 28, 2012

RIM to Report Results of First Quarter on Thursday

By Ed Silverstein, TMCnet Contributor

Research In Motion (RIM) is expected to offer details on planned employee layoffs and even give some information about the forthcoming BlackBerry (News - Alert) 10 late Thursday afternoon.

RIM is expected to lay off some 6,000 of its approximately 19,500 employees during the current year, according to Jefferies analyst Peter Misek, quoted by The Associated Press. The Canadian company looks to reduce expenses by $1 billion in 2012.

The anticipated information – to accompany details about 1Q results – is expected to come after the stock market closes on Thursday, according to AP.

Any good news is welcome, as RIM is a troubled company. One of its biggest challenges relates to how Apple's iPhone and Google's Android (News - Alert) operating system are tearing away at RIM’s market share.

AP reports that RIM CEO Thorsten Heins said RIM’s “turnaround” hinges on the success of the BlackBerry 10, which will use RIM’s highly anticipated QNX operating system.

Similarly, RIM saw some 78 million subscribers globally as of June. Yet the organization may begin losing two to three million subscribers per quarter, Misek told The AP.

Late last year, TMCnet reported that RIM could be a takeover target in 2012 – at least according to a report from The New York Times.

Overall, 2011 was not a good year for RIM. There were failures in service, questionable launches of new products, and the company reportedly saw lower market share. On top of that, shares of the company fell by a whopping 75 percent in 2011 starting in February.

If RIM is purchased, one possible buyer is Microsoft (News - Alert) – but talks between the company and RIM went nowhere, NYT reported. Amazon and Facebook are also possible purchasers, according to TMCnet.

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Edited by Braden Becker
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