RIM investors to question management's decisions over loss in sales

Ottawa, July 7 (ANI): Tough questions are likely to be raised over the future of Canadian smartphone maker Research in Motion Ltd, after dismal quarterly results last week triggered a 28-per-cent plunge in the share price of the company.

According to The Globe and Mail, sales of the BlackBerry maker's new line of smartphones in the quarter came in well below analysts' expectations and offered little evidence that the company could quickly win back market share from Apple Inc.'s iPhone, Samsung Electronics Co. Ltd.'s Galaxy devices, along with other phones powered by Google Inc.'s Android operating system.

The report added that BlackBerry has forecast another operating loss for the current quarter, but chief executive Thorsten Heins clarified that the company is on the right track and just needs more time. (ANI)


Get stories like this on the Yahoo app and discover more every day.
Download it now.