Quick Facts
FONT-SIZE Plus   Neg
Share SHARE
mail  E-MAIL

RIM Looking To Hire Bank For Strategic Options Review: Report

RELATED NEWS
Trade BBRY now with 
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.

Click here to receive FREE breaking news email alerts for BlackBerry and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Justin Moore has been named Humanitarian of the Year by by the Armed Forces Foundation. Moore received the award alongside Big Machine Label Group President/CEO Scott Borchetta for their service and commitment to the morale and welfare of military families through the Crown Royal "Your Hero's Name Here" contest. International Business Machines Corp. said Wednesday after the markets closed that its first quarter profit fell 21% from last year, hurt by lower revenue as well as a hefty workforce rebalancing charge. The company's quarterly earnings per share, excluding items, came in line with analysts' expectations, but its quarterly revenue fell short of analysts' forecast. Stocks moved sharply higher over the course of the trading day on Wednesday, further offsetting the steep losses posted late last week. The markets benefited from a positive reaction to the latest earnings news as well as remarks by Federal Reserve Chairman Janet Yellen. The major averages saw further upside going into the close, ending the session at their best levels of the day.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.