RIM posts $125 million quarterly net loss; to focus on business customers

In its recent report pertaining to the company's earnings during the quarter which ended March 3, BlackBerry-maker Research in Motion (RIM) said that it had recorded a $125 million net loss; with the figures being a shocking contrast to the last year same quarter profit of $934 million.

The quarterly earnings at RIM fell short of the Wall Street expectations, with the company reporting a 25 percent year-on-year plunge in its revenue --- from $5.6 billion to $4.2 billion. Analysts had estimated that RIM's revenue figures for the most recent quarter would be $4.54 billion.

That RIM's quarterly performance was dismal is further evident from the fact that the company's revenue figures for the latest quarter have witnessed a $1 billion fall from the revenue reported in the previous quarter.

The disquieting performance is an upshot of dismal sales of the company's PlayBook tablet, which reportedly sold only 500,000 units during the quarter --- a figure which is much lower than Apple's reported sales of nearly 15 million iPad units during the same quarter!

With RIM virtually struggling in the consumer markets, the company's CEO Thorsten Heins - who took over the reins of the company in January this year - has worked out some aggressive moves to help the company regain a foothold in the market.

Revealing that RIM intends returning to its roots and focus on business customers who have a notable preference for BlackBerry handsets due to security reasons, Heins said that a "substantial change" was required to turn around the company's fortunes.