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Blackberry's new smartphones fail to compete with phones from Samsung, Apple and other competitors. Under CEO Chen Blackberry sales decline further with a net loss of $423 million in the fourth quarter of 2013. Revenue decline was 64% to $976 million for the 4th quarter 2013. The cash position declined to $2.7 billion from $3.2 billion the prior quarter. In a remarkable reversal older Blackberry phones outsold new Blackberry 10 smartphones launched in 2013. Older Blackberry 7 models sales were 2.3 million compared to 1.1 million for the newer Blackberry 10 models, a situation unheard of in the smartphone industry.
Blackberry's new smartphones fail to compete with phones from Samsung, Apple and other competitors. Under CEO Chen Blackberry sales decline further with a net loss of $423 million in the fourth quarter of 2013. Revenue decline was 64% to $976 million for the 4th quarter 2013. The cash position declined to $2.7 billion from $3.2 billion the prior quarter. In a remarkable reversal older Blackberry phones outsold new Blackberry 10 smartphones launched in 2013. Older Blackberry 7 models sales were 2.3 million compared to 1.1 million for the newer Blackberry 10 models, a situation unheard of in the smartphone industry.
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Blackberry CEO Heins is interviewed by the WSJ's Will Connors in January 2013 during the launch of the Blackberry 10 touchscreen smartphone.
Blackberry CEO Heins is interviewed by the WSJ's Will Connors in January 2013 during the launch of the Blackberry 10 touchscreen smartphone.
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CEO John Chen's srategy in 2014 is to get more revenues from the higher margin mobile security business and with software service sales. As software service sales are uncertain, and with the threat from Apple in mobile security features, Chen is also introducing the Passport phone with features such as better reading of text for business users. Chen proved his turnaround expertise at Sybase with small targeted acquisitions and he is seen as using these skills at Blackberry. His plan is to breakeven on cashflow by 2015. Samsung and Apple have taken away most of the consumer market from Blackberry and what little remains is in emerging markets. Chen showed a small quarterly profit to send Blackberry shares up. Shares are now at $10.89 increasing 68% after Chen assumed the CEO position in November 2013.
CEO John Chen's srategy in 2014 is to get more revenues from the higher margin mobile security business and with software service sales. As software service sales are uncertain, and with the threat from Apple in mobile security features, Chen is also introducing the Passport phone with features such as better reading of text for business users. Chen proved his turnaround expertise at Sybase with small targeted acquisitions and he is seen as using these skills at Blackberry. His plan is to breakeven on cashflow by 2015. Samsung and Apple have taken away most of the consumer market from Blackberry and what little remains is in emerging markets. Chen showed a small quarterly profit to send Blackberry shares up. Shares are now at $10.89 increasing 68% after Chen assumed the CEO position in November 2013.
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The options facing Research in Motion's Blackberry as sales spiral downwards. Factors affecting sale of the company to buyers and valuations.
The options facing Research in Motion's Blackberry as sales spiral downwards. Factors affecting sale of the company to buyers and valuations.
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Research in Motion's new CEO, Thorsten Heins, says he has revamped the leadership team and his focus will now be on execution. He says that when he joined the company in 2007 it operated more like a startup. Heins wants to see founder Lazaridis in more of a visionary role. Product cycle times will be shortened as the teams will be more focussed from now on, says Heins. Heins sees one key part of RIM's strategy being getting new phones into the hands of users. Most Blackberry users have older model phones and Heins says only 10-15% of users know about the Blackberry 7 phones.
Research in Motion's new CEO, Thorsten Heins, says he has revamped the leadership team and his focus will now be on execution. He says that when he joined the company in 2007 it operated more like a startup. Heins wants to see founder Lazaridis in more of a visionary role. Product cycle times will be shortened as the teams will be more focussed from now on, says Heins. Heins sees one key part of RIM's strategy being getting new phones into the hands of users. Most Blackberry users have older model phones and Heins says only 10-15% of users know about the Blackberry 7 phones.
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Apple's sales in India are insignificant because of the lack of 3G networks. RIM's Blackberry and apps work well on the existing 2G networks. Prices are higher with the cheapest iPhone costing $705 at a Reliance iStore. The cheapest iPad 2 goes for $603. Blackberry phones cost less than $200. As a result Apple's iPhone sales are only 2.6% of India's smartphone shipments for the 2nd quarter 2011. RIM's is 15%, Samsung Electronic's is 21%, and Nokia's 46%, according to IDC. RIM is extending its distribution in India from 15 cities in 2010 to 80 cities in 2011. IDC estimates that smartphone shipments in India will grow by 68% a year, reaching 81.5 million units by 2015.
Apple's sales in India are insignificant because of the lack of 3G networks. RIM's Blackberry and apps work well on the existing 2G networks. Prices are higher with the cheapest iPhone costing $705 at a Reliance iStore. The cheapest iPad 2 goes for $603. Blackberry phones cost less than $200. As a result Apple's iPhone sales are only 2.6% of India's smartphone shipments for the 2nd quarter 2011. RIM's is 15%, Samsung Electronic's is 21%, and Nokia's 46%, according to IDC. RIM is extending its distribution in India from 15 cities in 2010 to 80 cities in 2011. IDC estimates that smartphone shipments in India will grow by 68% a year, reaching 81.5 million units by 2015.
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Original article 1 minute, gist 1 minute
Original article 1 minute, gist 1 minute
LyrArc Article Gist
The University of Waterloo located near Kitchener, Ontario, has one of the top ranking engineering schools in N. America. Blackberry was started by a student here. Google makes this one of the top 4 recruiting places worldwide.
The University of Waterloo located near Kitchener, Ontario, has one of the top ranking engineering schools in N. America. Blackberry was started by a student here. Google makes this one of the top 4 recruiting places worldwide.
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RIM reports selling 6 million smartphones in the 1st quarter of 2013, including 1 million Z10 smartphones. RIM says its Blackberry subscriber base dropped to about 76 million from 79 million the prior quarter. RIM reports earnings of $98 million, revenue declined to $2.68 billion from $4.18 billion the prior year quarter. The company's cash position at $2.9 billion was the same as the prior quarter.
RIM reports selling 6 million smartphones in the 1st quarter of 2013, including 1 million Z10 smartphones. RIM says its Blackberry subscriber base dropped to about 76 million from 79 million the prior quarter. RIM reports earnings of $98 million, revenue declined to $2.68 billion from $4.18 billion the prior year quarter. The company's cash position at $2.9 billion was the same as the prior quarter.
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In the apps area Apple's iPhone has a huge lead over RIM's Blackberry device. Apple has 225,000 apps, with 15,000 added each week. RIM's App World store shows only 7000 apps. Apps stores generate hundreds of millions of dollars for Apple compared to about $10 million for RIM. One problem is that an app that takes a month for software programmers, takes three times as long for the Blackberry.
In the apps area Apple's iPhone has a huge lead over RIM's Blackberry device. Apple has 225,000 apps, with 15,000 added each week. RIM's App World store shows only 7000 apps. Apps stores generate hundreds of millions of dollars for Apple compared to about $10 million for RIM. One problem is that an app that takes a month for software programmers, takes three times as long for the Blackberry.
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About 29% of businesses support the iPhone, up from none in 2007 and 17% in 2009 according to Forrester Research. Even though 70% still support the Blackberry, the iPhone is getting the support of employees who ask for iPhones, even if that means they pay for all or part of it on their own. AT&T's CEO Randall Stephenson, says about 40% of its iPhones are sold to companies or individuals with corporate discounts.
About 29% of businesses support the iPhone, up from none in 2007 and 17% in 2009 according to Forrester Research. Even though 70% still support the Blackberry, the iPhone is getting the support of employees who ask for iPhones, even if that means they pay for all or part of it on their own. AT&T's CEO Randall Stephenson, says about 40% of its iPhones are sold to companies or individuals with corporate discounts.
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