Research in Motion Reports First Quarter Fiscal 2012 Results and Revises Full Year Guidance
“Fiscal 2012 has gotten off to a challenging start. The slowdown we saw in the first quarter is continuing into Q2, and delays in new product introductions into the very late part of August is leading to a lower than expected outlook in the second quarter. RIM’s business is profitable and remains solid overall with growing market share in numerous markets around the world and a strong balance sheet with almost $3 billion in cash. We believe that with the new products scheduled for launch in the next few months and realigning our cost structure, RIM will see strong profit growth in the latter part of fiscal 2012.”
Jim Balsillie, Co-CEO at Research In Motion
Note that the highlights in the preceding quote are mine. But they all point to the same thing: scrambling!!!
The only thing RIM has going for them now is inertia: all those companies & people who depend on the Blackberry network. You can’t easily (if at all) transfer that stuff over to an Android or iPhone, so Blackberries will still be around for a while. RIM can take advantage of that and get their ass in gear, or they can be arrogant. US Thx Giving holiday is their big chance, they better have a kick-ass product ready for then – a press release promising great stuff in 2012 will be a suicide note!
Cross-posted on Schultzter’s blog at RIM’s last dance