TribLIVE

| Business


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

Sales of new BlackBerry not good; RIM shares plunge

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

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.

 

 
 


Show commenting policy

Most-Read Business Headlines

  1. Calgon Carbon poised for explosive growth
  2. Chevron puts $20M into educating, training Appalachian workers
  3. Amid struggles, top fiscal executive to leave EDMC
  4. Rural communities can’t shake effects of subprime crisis
  5. CMU spinoff’s CEO gets council honors
  6. High pollution levels found near Ohio gas wells
  7. Russian steel to lose duty shelter
  8. Natrona Bottling Co. keeps soda pop operation focused on craft, taste
  9. PPG Industries to buy Westmoreland Supply paint store chain
  10. Market sell-off offers opening
  11. Open enrollment puts varied impact of health care law back in focus
Subscribe today! Click here for our subscription offers.