Research In Motion Limited (RIM), announced its full year fiscal 2012 financial results last week and the news is not good. The Blackberry maker announced revenue and income losses as well an organizational shakeup that will see their CTO, COO and company co-founder Jim Balsillie all leave the company.
RIM’s fourth quarter revenues were reported at $4.2 billion which is a 25 percent year-over-year decline. The company reported a Net Loss for the fourth quarter of $125 million or $0.24 per share, in contrast to the Net Income of $934 million reported for the same quarter in 2011.
“I did my own reality check on where the entire company really is. I think as the benefit of going through this process from the vantage point of CEO, it is now very clear to me that substantial change is what RIM needs,” Heins said. “We plan to refocus on the enterprise business and capitalize on our leading position in this segment.”
RIM has suffered competitively against Apple iPhone and Google Android in the consumer space to the detriment of their enterprise business efforts. Moving forward, Hiens stressed that he is committed to regaining lost share in the enterprise market.
Read the full story at EnterpriseMobileToday:
RIM Earnings Tumble, CTO, COO and Balsillie Fall Too
Sean Michael Kerner is a senior editor at InternetNews.com, the news service of the IT Business Edge Network, the network for technology professionals Follow him on Twitter @TechJournalist.
