Manufacturer announces revenue fall of 33 per cent in first quarter of 2012
Research in Motion has announced 5,000 job losses, a further delay to BlackBerry 10 and a fall in revenue of 33 per cent, to $2.8billion (£1.67billion) in the first quarter of 2012.
In its latest set of financial results the manufacturer reported a net loss of $518million (£332m) and a fall in the number of smartphones sold to 7.8 million worldwide, from 11.1 million in the last quarter of 2011.
The new BlackBerry 10 operating system is now expected in the first quarter of 2013 due to delays in software development, with president and CEO Thorsten Heins emphasising it remains the company’s top priority.
“I am not satisfied with these results and continue to work aggressively with all areas of the organisation and the board to implement meaningful changes to address the challenges, including a thoughtful realignment of resources and honing focus within the company on areas that have the greatest opportunities,” said Heins.
“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. In parallel with the roll out of BlackBerry 10, we are aggressively working with our advisors on our strategic review and are actively evaluating ways to better leverage our assets and build on our strengths.”
As part of the company restructure to save $1billion, 5,000 jobs are set to be lost by the end of next year and the reduction of its number of manufacturing plants from 10 to three.