Bad news for RIM. The already troubled BlackBerry manufacturer sees no relief from any front whatsoever. This time the smartphone manufacturer’s sales in the US halve during the fiscal quarter ending August 27 2011. The total revenue from the US fell from US$2.22 billion a year ago to US$1.11 billion.
According to Business Briefing:
The US sales decline reduced the impact of gains in Canada, which saw sales increase by 7.7 percent to US$308 million, and in markets outside the US, Canada and UK, where sales grew by 38 percent to hit US$2.33 billion.
RIM’s third consecutive quarter of disappointing results saw net income fall by 59 percent due to declining sales of BlackBerry devices, including the BlackBerry PlayBook tablet computer.
The results saw the company’s stock price fall to US$12.5 billion last Friday, down almost a quarter from the previous day, and meaning the stock has shed half of its value in 2011.
As a result, the RIM CEO duo also lost their Billionaire status. RIM’s only hope lies in QNX, as the investors are quite restless since RIM is unable to produce any good sales numbers.
Another option for RIM to survive is to sell some of it’s patent portfolio, or as suggested by Jaguar, sell itself.
I hope RIM does not take any stupid decisions..!!
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