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RIM confident BB10 will help build "long-term value"
[November 15, 2012]

RIM confident BB10 will help build "long-term value"

(Baystreet Tech Insider (Canada) Via Acquire Media NewsEdge) A new line of BlackBerry 10 devices will provide Research In Motion (T. RIM) with a framework for growth over the next decade, and the smartphone maker is well on the way to meeting its cost-cutting promises ahead of the January launch, Chief Executive Thorsten Heins said on Wednesday.

Speaking in an interview with Reuters, Heins said RIM had identified $800 million of the $1 billion of savings it promised for the financial year ending in early March, and was confident of finding the rest as it gets ready to launch the new phones.

RIM, based in Waterloo, Ontario, is betting the new smartphones will help it claw back the market share it has lost to the likes of Apple Inc's iPhone and devices powered by Google's Android operating system.

"The message to our shareholders is that we understand this is and has been a difficult time for them and for us. But with the development of the BlackBerry 10 platform we are truly convinced that we will create long-term value for RIM's shareholders and investors." RIM shares closed in Toronto Wednesday at $8.51, up 1.3% from Tuesday's close © 1998 - 2012 Media Corp. All rights reserved.

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