Research In Motion Reports First-Quarter Loss (WSJ)
Research In Motion Ltd (NASDAQ:BBRY) reported a surprise loss for its fiscal first quarter and didn’t break down shipments of its new line of smartphones, or the size of its overall subscriber base for the period, sending shares sharply lower early Friday. In premarket trading, Research In Motion Ltd (NASDAQ:BBRY) shares were down 16% in New York. Research In Motion Ltd (NASDAQ:BBRY) blamed its loss on a charge related to Venezuelan foreign-currency restrictions. Without the charge, the company said it would have approached break-even in the quarter. Analysts, armed with a wide range of estimates for the number of new BlackBerry 10 phone BB.T -3.71% the company had shipped, were expecting Research In Motion Ltd (NASDAQ:BBRY) to earn a profit in the latest quarter. The period was the first full quarter to include sales from the first of three new BlackBerry 10 smartphones, but in a surprise move the company didn’t break out those sales from older models.
BlackBerry introduces services for rival Android, Apple smartphones (MontrealGazette)
Research In Motion Ltd (NASDAQ:BBRY) is launching a business service for corporate and government workers with rival Google Inc (NASDAQ:GOOG) Android and Apple Inc. (NASDAQ:AAPL) smartphones. It’s called the Secure Work Space, and it allows Apple Inc. (NASDAQ:AAPL) and Android users to separate their data and work apps, such as email and calendars, from their personal apps bringing a greater level of security. The business service is a way for Research In Motion Ltd (NASDAQ:BBRY) to compete with its rivals, which have been eating into its business user base, which is mainly long-term corporate customers. Those deals can be highly lucrative.
Microsoft: We’re not afraid of BlackBerry, proud to be No. 3 in mobile (Yahoo)
A fierce battle is raging among smartphone industry contenders this year, but Microsoft Corporation (NASDAQ:MSFT) thinks the war has already been won. In an interview with Verge, senior Windows Phone product manager Larry Lieberman said that Microsoft Corporation (NASDAQ:MSFT)’s mobile platform is “solidly the third ecosystem right now. That’s a huge announcement in some respects.” While Windows Phone took the lead in the first quarter this year, the platform’s global market share is still neck and neck with Research In Motion Ltd (NASDAQ:BBRY). Microsoft Corporation (NASDAQ:MSFT) is unafraid, however. ”I don’t think they can bring to the table some of the things we have,” Lieberman said. “The fact like we’re delivering across such a different set of price points to such a large audience.” Research In Motion Ltd (NASDAQ:BBRY)’s first low-cost BlackBerry 10 smartphone, the Blackberry Q5, is set to launch next month.
RIM Maintains Healthy Cash Pile (WSJ)
Despite its ongoing struggles—including a loss in the latest quarter–Research In Motion Ltd (NASDAQ:BBRY)’s war chest keeps getting bigger. The BlackBerry maker’s available cash and investment balance reached $3.1 billion in the three months ended June 1. That was more than the $2.9 billion it had in its coffers in the prior quarter. The fact that Research In Motion Ltd (NASDAQ:BBRY)’s cash pile increased is interesting. The company had pledged to spend upwards of $1 billion to market its new BlackBerry 10 devices around the world, and it has done everything from glitzy launches to sponsoring Alicia Keys concerts to get the word out.
Can RIM Dial Up Big Sales? (WSJ)
Research In Motion Ltd (NASDAQ:BBRY) -3.71% will give investors Friday their first real insight into how the company’s all-or-nothing bet on a new breed of BlackBerry devices is faring. The smartphone maker long ago stopped providing financial guidance, and analysts’ forecasts of quarterly shipments of the new phones are all over the map—ranging from as few as 2.75 million to as many as five million. In part, the estimates vary so much because Research In Motion Ltd (NASDAQ:BBRY) staggered the devices’ rollout around the world. The touch screen Z10 has been selling in Canada and the U.K. for most of this year, and Friday’s report would offer the first full quarter of Z10 shipments in the U.S. market.