RIM posts big loss but not as bad as expected
Research firm IDC says BlackBerry’s U.S. market share has plummeted from 45.8 percent in 2008 to 2.7 percent in 2012.
RIM has been laying off thousands of workers to offset the losses.
Heins noted RIM’s cash position stood at $2.3 billion at Sept. 1, up from $2.2 billion at the end of the previous quarter. The company is very focused on maintaining a strong financial position as it transitions to the new platform, he said.
Colin Gillis, an analyst with BGC Financial, said RIM’s ability to grow the subscriber base while not hurting its cash position is encouraging.
“It does give them more time. The talk of bankruptcy has probably dissipated right now,” Gillis said. “These are all the right moves, but does it change that their position is still bleak?”
RIM’s stock rose $1.46 cents to $8.60 in extended U.S. trading Thursday. It had ended the regular trading session up 14 cents at $7.14. RIM’s struggles have wiped out some $80 billion in shareholder wealth since 2008, a drop of over 90 percent.