RIM Q1 2013: BB10 Postponed, 5,000 Layoffs, $518 Million Loss
Research In Motion has announced the Q1 2013 financial results and they have reported a $518 million GAAP loss on revenues of $2.8 billion. In Q4 2012, RIM reported a loss of $125 million on $4.2 billion in revenues. The other terrible news coming from the company is that the BlackBerry 10 isn’t expected until at least early 2013.
“RIM’s development teams are relentlessly focussed on ensuring the quality and reliability of the platform and I will not compromise the product by delivering it before it is ready,” stated RIM CEO Thorstein Heins.
RIM said that they shipped 7.8 million BlackBerrys and 260,000 BlackBerry PlayBooks. RIM shipped 11.1 million BlackBerrys and over 500,000 PlayBooks in the past quarter. Earlier this month we wrote about how the company would be laying off 2,000 people, but now they will be laying off an additional 5,000 people.This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry