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Title: BlackBerry maker sees shares rise on results
Author(s): Richard Blackden
Source: Daily Telegraph (London, England). (Sept. 28, 2012): Business News: p5.
Document Type: Brief article
Full Text: Daily Telegraph
Full Text:
Byline: Richard Blackden
SHARES in Research in Motion rose more than 20pc on Wall Street last night as the troubled maker of the BlackBerry device reported a smaller loss than feared.
Investors sent shares in RIM racing after a rare piece of bright news from the Canadian company that invented the lucrative smartphone market.
Although RIM's $235m ([pounds sterling]145m) loss for the three months to the end of August trailed a profit of $329m in the same quarter last year, it was a better result than Wall Street had forecast.
Sentiment towards the embattled company was buoyed further because RIM's cash pile climbed to $2.3bn from $2.2bn a quarter earlier. Analysts said the increase allays fears that the BlackBerry maker could run out of cash before the launch of its new phone early next year.
"It's still bad, but it's a much smaller disaster than expected," said Shaw Wu, an analyst at stockbroker Sterne Agee. "These stocks all trade on expectations. Expectations were really low, and they were able to beat that."
Thorsten Heins, the chief executive of RIM, is betting that its next phone, which will be based on a new operating system called BB10, will be enough to win back market share from Apple and Samsung in the critical US market.
While the Canadian company is managing to lift sales in India, South Africa and Indonesia, the prices it can charge there are lower than in more developed economies.
Despite the surge in the shares in late trading in New York, analysts say large hurdles remain before RIM can re-establish itself as a force in the smartphone market.
Its global market share fell below 5pc last quarter, according to research firm IDC. That compares with the 12pc share it enjoyed a year earlier.
Shares in RIM climbed as high as $8.90 in late trading.
By Richard Blackden
Source Citation (MLA 7th Edition)
Blackden, Richard. "BlackBerry maker sees shares rise on results." Daily Telegraph [London, England] 28 Sept. 2012: 5. InfoTrac Full Text Newspaper database. Web. 6 Nov. 2012.
Document URL http://go.galegroup.com.ezproxy.ucb.ac.uk/ps/i.do?id=GALE%7CA303580908&v=2.1&u=food&it=r&p=SPN.SP00&sw=w Gale Document Number: GALE|A303580908
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Results for Basic Search Keyword (research in motion low share) LIMITS: With Full Text
Title: Analysis: Not so smart: high-profile outage and a worrying drop in sales
Source: The Guardian (London, England). (Jan. 24, 2012): Business News: p23.
Document Type: Article
Full Text: Guardian Newspapers Limited
Full Text:
Byline: Charles Arthur
BlackBerry maker Research in Motion is in dire straits. The joint chief executives Mike Lazaridis and Jim Balsillie have quit. Revenues are falling. Profits are falling. Expectations for the current quarter - given by the management - are that sales at Christmas will have been as low as in spring 2011.
Figures from Nielsen suggest that in the US in the past three months its share of smartphone sales has fallen from 7.7% in October to 6.4% in November, and to 4.5% in December. In an expanding market, RIM's share is dropping. It has $1bn (pounds 643m) in cash - but six months ago it had $2bn.
Sales of its would-be iPad challenger, the PlayBook, have been disastrous. Having ordered 2m at the beginning of 2011 it has only persuaded retailers to take half that number during the year, and been forced to write off $465m (pounds 298m) in value against those still in the warehouse.
Revenues peaked at $5.5bn (pounds 3.5m) in the December 2010 to
