RIM looking anemic: Revenues down, more job cuts on the way, PlayBook sales negligible [Updated]

Posted by Knowlton Thomas

RIM released its Q2 results. Faint of heart, look away.

The Waterloo company's revenue is down 15% from last quarter and 10% from the same quarter last year.

Bloomberg earlier estimated that RIM shipped 490,000 tablets during Q2. In reality, a mere 200,000 PlayBook tablets were shipped. That's less than half of analyst expectations, which were already considered on the low end. And who knows how many of those shipped units actually sold. 

"Overall unit shipments in the quarter were slightly below our forecast due to lower than expected demand for older models," said Jim Balsillie. 

The company will cut more jobs as it "streamlines" its operations. RIM's stock shot down 18% in after hours trading.

Waterloo, Ontario, Canada

Research In Motion (RIM), a global leader in wireless innovation, revolutionized the mobile industry with the introduction of the BlackBerry® solution in 1999. BlackBerry products and services are used by millions of customers around the world to stay connected to the people and content that matter most throughout their day. The BlackBerry product line includes the BlackBerry® PlayBook™ tablet, the award-winning... more

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Knowlton Thomas

Knowlton Thomas

Knowlton is the managing editor of Techvibes. Based in Vancouver, Knowlton has been published in national publications and has also appeared on television and radio. Previously he was an editor for New Westminster weekly The Other Press and served on its board of directors. When not working, Knowlton enjoys playing tennis or otherwise enjoying the outdoors. more

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