While Research in Motion reported dismal quarterly earnings this week, the company did manage to improve its cash balance, suggesting the its demise isn't imminent — if it can survive until the launch of BlackBerry 10.
Research in Motion CEO Thorstein Heins said in a Thursday earnings conference call that the company is working hard to overcome the challenges faced by the rapidly expanding smartphone market and is looking to the upcoming BB10 platform and licensing deals for BlackBerry Messenger to survive.
Canadian telecom Research in Motion took a substantial hit during its first fiscal quarter of 2013 with a non-GAAP loss of $0.37 per share on only $2.81 billion of revenue, numbers that are drastically lower than anticipated results from financial analysts and represent the first net loss for the company since 2004.
In 2010, when the iPhone was still exclusive to AT&T in the U.S., the carrier turned to Research in Motion and asked it to develop a touchscreen device to compete with the iPhone, a new report reveals.
Trading of Research in Motion shares were halted briefly early Tuesday ahead of an announcement from CEO Thorsten Heins, who said to expect an operating loss for the company's first fiscal quarter of 2012.
As ailing Research in Motion prepares to axe nearly 40 percent of its workforce in the coming months, another top-level executive has announced their resignation on Monday as the BlackBerry maker continues to hemorrhage cash.