TribLIVE

| Business


 
Larger text Larger text Smaller text Smaller text | Order Photo Reprints

Sales of new BlackBerry not good; RIM shares plunge

Email Newsletters

Click here to sign up for one of our email newsletters.

On the Grid

From the shale fields to the cooling towers, Trib Total Media covers the energy industry in Western Pennsylvania and beyond. For the latest news and views on gas, coal, electricity and more, check out On the Grid today.

BBRY $10.46 -$4.02

at close on FRIDAY

Daily Photo Galleries

Business Photo Galleries

By The Associated Press
Saturday, June 29, 2013, 12:01 a.m.
 

Shares of BlackBerry maker Research In Motion plunged nearly 30 percent as the company posted a loss and warned of future losses despite releasing its make-or-break new smartphones this year.

RIM also announced that it will stop developing new versions of its slow-selling tablet computer called the Playbook. Analysts were looking for insight into how phones running RIM's new Blackberry 10 operating system are selling. It wasn't good.

RIM said it sold 6.8 million phones overall versus 7.8 million last year. That includes older models. In wasn't until well into a conference call with analysts that RIM announced that 2.7 million of the devices sold in the quarter were Blackberry 10 models.

Mike Walkley, an analyst with Canaccord Genuity, said it's clear the new operating system has not turned the company around.

Subscribe today! Click here for our subscription offers.

 

 


Show commenting policy

Most-Read Business Headlines

  1. Delay sought in enforcing regulation to make mortgages easier to understand
  2. GDP data, consumer sentiment drop slash stocks
  3. Honda thinks outside box
  4. Tight supply pushes home prices higher
  5. Trib 30 index of stocks gains 0.7% in May
  6. Shoppers pay premium for organic chicken
  7. Overhaul possible for West Mifflin’s Century III Mall
  8. Vehicle won’t run if sensor is on the fritz
  9. Tesla home battery at $7K, partnered with rooftop solar system, may help reduce power bills
  10. EPA to release biofuels proposal by June 1
  11. Proposed Charter-Time Warner merger would yield 3rd-largest provider