Investors Dump RIM Shares

June 29, 2013 at 3:42 pm PT

Research In Motion Ltd.’s executives won’t say the company’s new line of BlackBerrys is a flop, but some investors have already made up their mind.

The company’s shares tumbled 28 percent on Friday after RIM reported it shipped far fewer new BlackBerry phones than analysts had expected in its fiscal first quarter.

Chief Executive Thorsten Heins has staked the company’s future on a new operating system, BlackBerry 10, which it unveiled early this year, and a bevy of phones that run off it. Many investors have bet this turnaround plan could work, sending RIM’s shares up 59% in the 12 months before Friday’s news.

Read the rest of this post on the original site »

Tagged with: BlackBerry, earnings, investors, RIM, smartphones

Must-Reads from other Websites

Why Apple Should Buy China’s Xiaomi

Panos Mourdoukoutas, Contributor, Forbes

What I Didn’t Say

Paul Graham, Founder, ViaWeb

We Need to Talk About TED

Benjamin Bratton, Journalist, The Guardian

I, Glasshole: My Year With Google Glass

Mat Honan, Senior Writer, Wired

All Together Now

Chris Ware, Writer, The New Yorker

The Sculpture on the Moon

Corey S. Powell and Laurie Gwen Shapiro, Contributors, Slate

About Voices

Along with original content and posts from across the Dow Jones network, this section of AllThingsD includes Must-Reads From Other Websites — pieces we’ve read, discussions we’ve followed, stuff we like. Six posts from external sites are included here each weekday, but we only run the headlines. We link to the original sites for the rest. These posts are explicitly labeled, so it’s clear that the content comes from other websites, and for clarity’s sake, all outside posts run against a pink background.

We also solicit original full-length posts and accept some unsolicited submissions.