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Thread: RIM: Next-generation phones not out till late 2012

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    Lame RIM: Next-generation phones not out till late 2012

    By ROB GILLIES, Associated Press




    TORONTO – BlackBerry maker Research In Motion Ltd. said Thursday that new phones deemed critical to the company's future will be delayed until late 2012.

    Mike Lazaridis, one of the company's co-CEOs, said the BlackBerry 10 phones will need a highly integrated chipset that will not be available until mid-2012, so the company can now expect them to ship late in the year. He disclosed the delay on a conference call with analysts.

    Analysts say RIM's future depends on the new software platform. RIM needs to come up with a compelling BlackBerry as U.S. users have moved on to flashier touch-screen phones such as Apple's iPhone and various competing models that run Google's Android software.

    Earlier Thursday, RIM said BlackBerry sales will fall sharply in the holiday quarter, providing further evidence that it is struggling to compete. It also has been having a hard time finding a niche in the tablet-computer market, which is dominated by Apple's iPad.

    RIM continues to enjoy success overseas, but market researcher NPD Group says RIM's market share of smartphones in the U.S. has declined from 44 percent in 2009 to 10 percent this year.
    The company's stock fell nearly 8 percent Thursday.

    The delay in BlackBerry 10 phones is the latest in a series of setbacks for the once-iconic Canadian company. Its PlayBook tablet computer hasn't been selling well, forcing the company to sell them at a deep discount. A widespread outage frustrated tens of millions of BlackBerry users in October. RIM fired two executives after their drunken rowdiness forced the diversion of an Air Canada flight. The head of its operations in Indonesia faces charges related to a stampede at a recent promotional sale where dozens of consumers were injured.

    RIM said its net income sank 71 percent as revenue fell and the company took a large accounting charge on the PlayBook.

    RIM earned $265 million, or 51 cents per share, for the quarter that ended Nov. 26. This compares with $911 million, or $1.74 per share, a year ago. The company said revenue fell 6 percent to $5.2 billion. The PlayBook charge was $485 million before taxes.

    The company shipped 14.1 million BlackBerry smartphones during the third quarter and 150,000 PlayBook tablets, but its guidance received particular attention because it had warned about the third-quarter results earlier. Although RIM has said it would sell fewer BlackBerrys in the current quarter, the forecast given Thursday appeared worse than expected.

    RIM said it would only ship between 11 million and 12 million BlackBerrys in the fourth quarter and said earnings would be in the range of 80 to 95 cents per share.

    Peter Misek, an analyst at Jefferies & Co. in New York, said earlier that if RIM reveals that it will ship no more than 12 million BlackBerrys in the current quarter, then the company needs to get its new phones out fast. Otherwise, RIM could lose money in future quarters as it continues to struggle to sell the current, stopgap models.

    On Thursday, BGC Financial analyst Colin Gillis said the guidance was terrible.

    Jim Balsillie, the other co-CEO, said the last few quarters have been among the most challenging times in the company's most recent history. He said executives are working to turn it around, but said it may take time.

    "We are not satisfied with the performance of the business in the United States," Balsillie said.
    Balsillie said he and Lazaridis have reduced their cash salary to $1 per year, though they will continue to earn stock options and other compensation.

    RIM's stock fell $1.20 to $13.93 in extended trading Thursday after the results were released.

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    for GF

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    21-Jazz hands salute Muddy's Avatar
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    Yeah I give em' hell here at work for using those things...

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    Shelter Dweller PorkChopSandwiches's Avatar
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    Failtrain Whoooooo Woooooooooooo






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    #DeSantis2024 Teh One Who Knocks's Avatar
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    They are so far behind the times they should just close the doors of the company

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    Shelter Dweller PorkChopSandwiches's Avatar
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    Their holdings are worth more then all of their stock.






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    #DeSantis2024 Teh One Who Knocks's Avatar
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    With new smartphones coming out all the time for Android by all the different manufacturers, I'm trying to figure out how BB is so far behind

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    Basement Dweller Godfather's Avatar
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    Yeah been all over this. They fucked up... I'm hard pressed to know what to do with my stock

    Some solid investors are saying even a year down the road, the product they put out could give them some bounce back so now's the time to buy. Probably just worth the risk at this point.

    Others say if you haven't sold yet, do it now. RIM has dumped about 70% of its market value this year and they have a shit load of product just sitting on shelves

    *sigh*

    Time for co-CEO's and a good OS. The market for the commercial sector is still their to take if they fix things. I love the hardware, it's great. But the software is shit.
    Last edited by Godfather; 12-17-2011 at 03:28 AM.

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    You still own RIM stock???



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    Shelter Dweller PorkChopSandwiches's Avatar
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    Quote Originally Posted by thelancinator View Post
    You still own RIM stock???


    Lol. And you want to buy more






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    #DeSantis2024 Teh One Who Knocks's Avatar
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    Disappointment mounts for Research In Motion
    4:43p ET December 16, 2011 (MarketWatch)


    SAN FRANCISCO -- Research In Motion Ltd. shares fell to a 52-week-low Friday as investors showed their displeasure with the BlackBerry smartphone maker's latest quarterly results and forecast.

    RIM gave up $1.69, or more than 11%, to close at $13.44, after earlier falling to as low as $13.12 in the wake of the company's third-quarter results. Late Thursday, RIM said it earned $265 million, or 51 cents a share, on revenue of $5.17 billion. During the same period a year ago, RIM earned $911 million, or $1.74 a share, on $5.5 billion in sales.

    Excluding one-time items, RIM would have earned $667 million, or $1.27 a share, in the three months ended Nov. 26. The results were in line with a pre-announcement from Dec. 2.

    Analysts surveyed by Thomson Reuters had forecast that RIM would earn $1.19 a share on revenue of $5.27 billion, on average, for the latest quarter.

    The company shipped 14.1 million smartphones during the quarter, in which it also launched new smartphones using the refreshed BlackBerry 7 operating system, including the BlackBerry Bold 9900. RIM said it ended the quarter with nearly 75 million BlackBerry subscribers globally.

    For the fourth quarter ending in February, RIM said it expects earnings to come in the range of 80 to 90 cents a share on revenue between $4.6 billion and $4.9 billion. Analysts had earlier forecast RIM to earn $1.18 a share on $5.12 billion in revenue.

    RIM said it expects to ship 11 million to 12 million smartphones during the current quarter, while analysts had forecast shipments of 13.1 million smartphone units.

    RIM also said it wouldn't release its first smartphone running on the BlackBerry 10 operating system until late in 2012, after previously saying the phones would come out in the early part of the year.

    Analysts were quick to slam RIM following its report and forecast. Tim Long of BMO Capital Markets cut his rating on RIM to market perform, or neutral, from outperform, and lowered his target price on RIM's shares to $15 from $26.

    In a research note, Long said, "While we clearly waited too long to downgrade, we are more concerned that management's new strategic moves will likely destroy even more value."

    Long went on to say that delaying the release of BlackBerry 10 smartphones, which will run on a new fourth-generation wireless network, "makes no sense to us as we estimate that 80% of RIM's devices are sold outside the U.S., where there is no 4G [infrastructure]."

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    When was the last time BlackBerry forecasted properly






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    Basement Dweller Godfather's Avatar
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    They hit 60$ a share after a big report last September. I sold most of what I had not too long after that. And I've done that once before. Overall I'm probably around even or up a bit on RIM investments.

    Just had to hold onto some though didn't I Selling now would probably be stupid, as their share value is less than than the companies actual valuation. I'm certainly not buying more myself. Leave that to the high-risk investors.

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    #DeSantis2024 Teh One Who Knocks's Avatar
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    Sell what you have before it becomes a Penny Stock

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    Basement Dweller Godfather's Avatar
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    FML

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