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Wireless

RIM forecasts Q1 operating loss

Wednesday 30 May 2012 | 08:56 CET | News
Research In Motion expects to report an operating loss for its fiscal first quarter to 02 June, hurt by weak demand for its BlackBerry smartphones. CEO Thorsten Heins said in a letter to shareholders that the company continues to suffer from lower volumes and "highly competitive pricing dynamics in the market". The company is competing "aggressively" on both the consumer and enterprise market and is pushing ahead with planned cost reductions of USD 1 billion by the end of fiscal 2013, Heins said. It also expects an increase in its cash position in Q1 from the USD 2.1 billion reported at the

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Categories: Mobile & Wireless
Companies: Research In Motion
Countries: World
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