RIM (BlackBerry) Quarterly Net Way Down, Layoffs Announced, Shares Down -14% in After Hours Trading

Research In Motion (RIM) is the firm responsible for the once dominant BlackBerry smartphone models. The now troubled firm announced a quarterly net income that was far below what they reported in the same quarter a year ago ($695 million compared to $769 million) and far below the previous quarter ($934 million). They also announced an unspecified number of jobs will be cut.

RIM implodes: announces layoffs, 500,000 PlayBooks shipped (The Loop)

Most of their problems like in attempts to develop a touch screen smartphone to complement or succeed their successful physical thumb keyboard designs.