Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

RIM Looking To Hire Bank For Strategic Options Review: Report

RELATED NEWS
Trade BBRY now with 

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
Computer and printer maker Hewlett-Packard Co. (HPQ) said Wednesday after the markets closed that its third quarter profit fell 29% from last year, hurt mainly by higher restructuring charges even as revenue grew 1%. The company's quarterly earnings per share, excluding items, came in line with analysts' expectations, but its quarterly revenue beat analysts' forecast. Stocks fluctuated over the course of the trading day on Wednesday before ending the session mostly higher. The Dow and the S&P 500 both finished the day in positive territory, although the tech-heavy Nasdaq posted a modest loss. President Barack Obama spoke harshly of the terrorist group allegedly responsible for the execution of American freelance journalist James Foley in a statement on Wednesday. Obama described the group known as the Islamic State of Iraq and the Levant, or ISIL, as a cancer that needs to be extracted.
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.