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RIM Looking To Hire Bank For Strategic Options Review: Report

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4/16/2012 5:30 PM ET

Struggling Canadian smartphone maker Research In Motion Ltd. (RIM, RIMM.TO) is in talks to hire a financial adviser to help it weigh its strategic options, Bloomberg reported Monday, citing three people with knowledge of the matter.

RIM is looking to hire one Canadian bank and one global bank to help in the process, the report indicated Monday.

Last month while reporting its fourth quarter earnings result, CEO Thorsten Heins indicated the company was considering a comprehensive review of strategic opportunities including partnerships and joint ventures, licensing, and other ways to leverage its assets and maximize shareholder value.

RIM, once the undisputed king of the smartphone market, has struggled lately to compete with Apple's (AAPL) iPhone and iPad, and devices powered by Google's (GOOG) Android software.

For the fourth quarter of 2011, the company reported net loss of $125 million or $0.24 per share on revenues of $4.19 billion.

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by RTT Staff Writer

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