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BGC Financial analyst Colin Gillis said it’s a positive development that RIM is going to focus on its corporate clients and lower-end consumers.

“They are conceding the high-end consumer market with all these services that are wrapped around the platform,” Gillis said. “At least there’s some reality here. Are they going to compete against iTunes? No way.”

Peter Misek, an analyst at Jefferies & Co. in New York, said RIM should have recognized that it is niche player and lost the battle with Apple three years ago. Misek said the company should have looked at partnering with other companies last year rather than now.

When he took the CEO job in January, Heins said a drastic change in strategy was not needed. He said Thursday that he changed his mind after conducting his “own reality check on where the entire company really is.”

RIM announced the changes as it announced quarterly results that fell short of Wall Street expectations.

Net loss was $125 million, or 24 cents a share, in the fiscal fourth quarter. This compares with $934 million, or $1.78 per share, a year ago.

After excluding one-time items, adjusted income was 80 cents per share, a penny short of expectations from analysts polled by FactSet.

Revenue fell 25 percent to $4.2 billion from $5.6 billion. Analysts were expecting $4.5 billion.

For the full fiscal year, RIM earned $1.2 billion, or $2.22 a share, on revenue of $18.4 billion. That compares with net income of $3.4 billion, or $6.34 a share, on revenue of $19.9 billion in fiscal 2011.

In extended trading after the results came out, RIM shares fell 33 cents, or 2.4 percent, to $13.40. During the regular session, the stock increased 6 cents to close at $13.73.