BlackBerry maker RIM posts $290m loss, predicts more losses
MONTREAL (AFP) - BlackBerry maker Research in Motion (RIM) said on Thursday it lost US$235 million (S$290 million) in the past quarter, and predicted more losses in the current period as it readies its new smartphone platform for next year.
In the results for the quarter ended Sept 1, the Canadian-based firm posted its third consecutive loss, although not as bad as analysts had forecast, as the company struggles to keep pace in the fast-changing smartphone market.
"Despite the significant changes we are implementing across the organization, our second quarter results demonstrate that RIM is progressing on its financial and operational commitments during this major transition," said Mr Thorsten Heins, president and chief executive of the Ontario-based firm.
Mr Heins said the BlackBerry 10 platform, which aims to revamp the smartphone to compete with the likes of Apple's iPhone and Google-based Android devices, "is on track to launch in the first calendar quarter of 2013".