BlackBerry to refocus on corporate sales
Research In Motion Ltd. reported revenue and profit that fell short of analysts’ estimates and said it will discontinue giving financial forecasts as demand for BlackBerry smartphones wanes. Fourth-quarter earnings excluding one-time items fell to 80 cents a share and sales dropped 25 percent to $4.19 billion, the Waterloo, Ontario-based company said today in a statement. Analysts predicted earnings of 81 cents and sales of $4.51 billion, the average of estimates compiled by Bloomberg. RIM also said Jim Balsillie, its former co-chief executive officer, has resigned from the board. CEO Thorsten Heins, who took the top job in January, is trying to turn around a company which has lost market share to Android devices and Apple Inc.’s iPhone because of aging technology, marketing gaffes and product delays. RIM said it is reviewing strategic opportunities including partnerships, joint ventures, licensing, and other ways to “leverage’’ its assets.