Daily Archives: October 1, 2012
Blackberry maker Research In Motion shocked the market late on Thursday — reporting a much smaller-than-expected loss in the second quarter.
Written off as a has-been by technology analysts, RIM revealed that its handsets are still sought after by cost-conscious users in emerging markets.
RIM [RIMM 7.50 0.36 +5.04% ]reported a net loss of $235 million in the second quarter, far surpassing analysts’ expectations. The company posted a profit of $329 million in the same period a year earlier.
It’s a welcome bit of good news for the struggling technology group. The smartphone pioneer once produced products so in vogue that arguably the world’s hippest chief executive, President Barack Obama, famously refused to part with his BlackBerry.
But analysts remain cautious about the company’s future, waiting the launch of RIM’s much-heralded launch of its next-generation BB10 product next year.