We all know RIM is going through a tough phase right now and it is expected to remain so throughout the year. RIM has announced its Q4 results which as expected is very ugly indeed. This is the first report under the new CEO Thorsten Heins and the Canadian company is reporting revenue of $4.2 billion, down 19 percent from the third quarter, and a GAAP net loss of $125 million. BlackBerry device shipments were down 21 percent to 11.1 million units and 500,000 PlayBook units were shipped in this quarter.
The new CEO was quite frank in accepting that the RIM faces some “significant” business challenges over the “next several quarters,” and says that he’s “taking the necessary steps to address them.” That includes “increased management accountability and process discipline,” as well as what he describes as a “comprehensive review of strategic opportunities including partnerships and joint ventures, licensing, and other ways to leverage RIM’s assets and maximize value for our stakeholders which makes us think they would really be licensing the upcoming BB OS 10. The CEO said that these were indeed “difficult times” with “no guarantee of success” and that he intends to refocus on the company’s enterprise business, and not try to be “all things to all people.”
We saw RIM’s two co-CEOs, Jim Balsillie and Mike Lazaridis step down of their posts at the start of the year and now Jim Balsillie has resigned from his position on the company’s board of directors. He said, “As I complete my retirement from RIM, I’m grateful for this remarkable experience and for the opportunity to have worked with outstanding professionals who helped turn a Canadian idea into a global success.” RIM also confirmed that CTO David Yach would be retiring as well, and that COO Jim Rowan has “decided to pursue other interests,” but it hasn’t offered any indication of a broader shakeup beyond those three departures.”
