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RIM Hires Bankers to Explore Options

May 29, 2012, 3:36 PM by Eric M. Zeman

Research In Motion today provided a little bit of guidance ahead of its second quarter close and results. In a press release sent to investors, RIM CEO Thorsten Heins explained that the company has hired banking firms to explore its options moving forward. In a statement, the company said, "To further enhance our commitment to successfully completing our transformation, we engaged J.P. Morgan Securities LLC and RBC Capital Markets to assist the Company and our Board of Directors in reviewing RIM’s business and financial performance. These advisors have been tasked to help us with the strategic review ... and to evaluate the relative merits and feasibility of various financial strategies, including opportunities to leverage the BlackBerry platform through partnerships, licensing opportunities and strategic business model alternatives." Heins said that though the company is facing significant challenges, it believes that the launch of BlackBerry 10 will help bolster the company's long-term survival. The company recently revealed that it may have to write-down $1 billion in unsold BlackBerry smartphones and tablets that remain in inventory.

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Comments

This forum is closed.

This forum is closed.

Mossberg

May 30, 2012, 6:47 AM

Man, I wanted rim to pull their head out, so bad

(plays taps on a trumpet)

Goodbye rim.

Jellz

May 29, 2012, 4:42 PM

"The company recently revealed

that it may have to write-down $1 billion in unsold BlackBerry smartphones and tablets that remain in inventory."

What exactly does it mean by 'write-down?'

JBlaze74

I think they're talking about writing them off as a loss. Hopefully, for their sakes, the total is retail cost and not actual production value

...

6667779311

May 29, 2012, 8:59 PM

Hello RIM

Hi. My name is Mark. Welcome to our Facebook family.

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