RIM Now Sees Clearly, Giving Up on Smartphones
On the heels of the release of its fiscal Q4 earnings results, it was a pleasant surprise to see that the company no longer pretending its house is in order and the market has gotten it all wrong.
But sadly for RIM, this wisdom may be "too little too late" as it reported revenue of $4.2 billion -- a number that represents a drop of 19% from the previous quarter. Management said the decline was caused by decreased BlackBerry smartphone shipments falling from 14.1 million in Q3 to 11.1 million in Q4, as well as a higher proportion of lower average selling prices. RIM also said the Bold 9900 continues to gain traction while certain models of the BlackBerry 7 were not selling as well as the company had anticipated.