Archive for the ‘rimm’ Category

RIM Begins Laying Off Executives Prior To Earnings

Thursday, March 29th, 2012

http://www.bloomberg.com/image/ii.m9IFNyQ.4.jpg

Research In Motion (RIMM), the Blackberry maker has been laying off high-level staff on the eve of its earnings reports the Globe & Mail.

A source with knowledge told the news outlet that, RIMM CEO,  Thorsten Heins was letting go executives at the senior vice-president and vice-president levels. They were told they no longer had jobs on Thursday.

Here is rest of the report from the Globe & Mail:

“Lots of high level people within RIM were let go today,” this person said. “Quite a few. Big shake up.”

Sales and marketing staff, which were targeted for layoffs in the summer, have been targeted yet again, according to this person.

Few have expected RIM’s results to be good. The only question analysts had were how bad the results would be and what changes Mr. Heins was beginning to implement at the smartphone maker, which has lost market share to Apple Inc. and Google Inc.’s Android platform.

RIM said when it announced its third-quarter earnings that it expected to see fourth-quarter revenues of between $4.6-billion and $4.9-billion, earnings per share of between $0.80 and $0.95, and a gross margin of approximately 38 per cent.

The Waterloo, Ont.-based technology company also said it expected to ship between 11 million and 12 million smartphones.

Bay Street and Wall Street analysts in recent weeks have been universally bearish on the company, with many forecasting that RIM would miss its earnings guidance and announce that BlackBerry sales were slowing.

Several analysts have also raised other issues, either through an analysis of long-term trends or through channel checks. Some have pointed out that the strong overseas growth that has carried RIM through recent quarters may be slowing, and that demand seems to be slowing for RIM’s current crop of “aging” BlackBerry 7 smartphones, such as its flagship touch screen BlackBerry Bold 9900.

“The company is on a declining trajectory and there is little reason to think this is going to change with the current strategy,” wrote BGC Financial L.P. technology analyst Colin Gillis in a note to clients this week. “Our take is that customers view the brand as yesterday’s phone, and (mobile application) developers are not building for the platform.”

Halliburton Follows Clorox Dumps RIMM Goes iPhone

Monday, February 6th, 2012

http://cdn.tipb.com/images/stories//2010/08/blackberry-torch-9800-vs-1-620x465.jpg

Halliburton (HAL), the oilfield services company, once a bastion for the Blackberry (RIMM), is dumping RIM’s platform and switching Apple’s (AAPL) iOS.

“Over the next year, we will begin expanding the use of our mobile technology by transitioning from the BlackBerry (RIMM) platform that we currently use to smartphone technology via the iPhone,” the firm told employees in an internal newsletter.

Halliburton is taking the same path for it 70,000 employees as Clorox (CLX) did last year, when it ditched the BlackBerry for the iPhone.

The company once relied heavily on RIM’s platform, but after evaluating RIM, Windows Phone, Android, and iOS, Halliburton has settled on switching to Apple’s platform.

RIM’s platform was once synonymous with business communications, but that status has slowly eroded since the iPhone’s introduction. While corporate IT spent the first few years after the iPhone’s introduction scoffing at the device, quarterly reports from analysis firms like Good Technology show that iOS has penetrated enterprise markets in a way that even the stodgiest of companies can no longer afford to ignore.

As such, Halliburton is looking to iOS devices to provide employees with secure access to many of its internal applications from outside the company’s network, exclusively through their iPhones. The demand for such flexibility was driven in part Halliburton’s customers, who desire mobile data-access apps for their own iPhone platforms, according to people familiar with the matter.

Halliburton, said it is actively working with Apple on the transition to iOS.

RIMM: Only Thing Going Up Inventory Of Unsold Playbooks

Monday, December 5th, 2011

When you do the math, the PlayBook writeoff of $485 million is actually worst than it appears. The Playbook initiative has burned $1.5 billion in cash and the only thing going up is the inventory of unsold Playbooks.

RIMM had hoped to sell the Playbook, a seven inch tablet for $799 but thought $699 would sound better. Later it dropped the price to $599. When sales did not materialize, RIMM dropped the price to $399. Subsequently, the price has been dropped to $299 and Best Buy is selling them for $199. The company even had a buy one get two free special.

Reuters reports that special, turned into a stampede in Indonesia, and RIMM’s Indonesia CEO, will be charged with negligence police said. More>>

Indonesia Arrests RIMM CEO In Buy 1 Get 2 Free Stampede

Monday, December 5th, 2011

Reuters reports that a special promotional offer by RIMM, turned into a stampede in Indonesia, and RIMM’s Indonesia CEO, will be charged with negligence according to police.

Here are the details via Reuters:

The police said Andrew Cobham was responsible for the promotional event on November 25 in Jakarta, which attracted a crowd of about 5,000 people. Police halted the sale after dozens passed out in the crush.

“The suspect has been banned from travelling overseas. He must go through the legal process here,” said police investigator Budi Irawan.

Cobham has not been detained. The maximum penalty for negligence is nine months in jail.

Police also named a security consultant hired by RIM, an event organizer and a manager of the sale’s shopping centre venue, as suspects who are likely to be charged.

RIM was offering a 50 percent discount to 1,000 people at a launch of its latest phone in Jakarta, with people starting to queue since before midnight.

Indonesia is one of the fast growing markets for the Blackberry, with about two million users.

The strong demand reflects booming consumption among an emerging middle class in Indonesia, Southeast Asia’s largest economy, with the country having been a bright spot for a firm that capped a dismal year with a profit warning last week.

There was no immediate comment from either RIM or Cobham.