Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

RIM Q3 net income falls to USD14m  Join our daily free Newsletter

MENAFN - 21/12/2012

No. of Ratings : 0
Add to Mixx!


 


(MENAFN) Research In Motion's (RIM) CEO, Thorsten Heins, stated that the company's net income in the third quarter fell to USD14 million, from USD265 million in 2011's same period, reported AP.

Heins said that the figure comprises a favorable tax settlement.

In the period ended December 1, the Canadian firm's revenue plunged 47 percent from a year earlier, reaching USD2.7 billion.

He added that the number of BlackBerry users declined to 79 million in the quarter, the company's first ever loss in BlackBerry subscribers.

However, the CEO said that the company will start charging service fees, noting that only subscribers who want improved security will pay fees under the new system, whereas other subscribers who do not use such services are forecasted to generate less or no service revenue.

The company, which plans to introduce the BlackBerry 10 platform early next year, managed to boost its cash holdings by USD600 million in the quarter to USD2.9 billion, even after the funding of all its restructuring costs.

The firm says that the new BlackBerry offers the multimedia, internet browsing and apps experience that customers now demand.

It is worth noting that RIM has previously announced that it will cut 5,000 jobs this year.

 






  MENA News Headlines


 






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country
Marketwatch News
UPI News
Comtex News

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help