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

BlackBerry Bold Touch

BlackBerry Bold Touch
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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. Part of their problems may rest with their recent attempt to produce a tablet to compete with Apple’s iPad. O2 in the UK decided not to sell the PlayBook which was to have launched there this week.

O2 UK spurns BlackBerry PlayBook, cites issues with ‘end to end customer experience’ (Engadget)

BGR reports that RIM is delaying the launch of the 4G versions of the PlayBook until “later this fall.”

4G PlayBook launches delayed until fall

RIM’s stock price, which had been up slightly at the end of the trading day (+0.16) plummeted in after hours trading. They were down -5.07 (-14.35%) overnight. RIM’s share price on June 20, 2008 peaked near $145.