Research In Motion (RIM), the maker of BlackBerry smartphones, is losing market share much faster than expected not just in the United States but globally.
The Nasdaq-listed shares of the company tumbled about 21 percent in pre-market trading.
From in.finance.yahoo.com:
On Thursday, the company posted a sharp drop in quarterly profit, painted a dismal picture for the current quarter and said it now expects to reach only the lower end of an already reduced full-year outlook.
“While the RIMM bulls have long pinned their hopes on international growth offsetting North America declines, this quarter largely defeated that thesis, as international revenues are now also in steep decline,” Goldman Sachs analyst Simona Jankowski wrote in a note to clients.
Second-quarter revenue from international operations, excluding UK, fell 15 percent from the previous quarter — proof that the decline in RIM’s market share is not constrained to the U.S. and UK markets.
Once a byword for corporate communication, RIM’s BlackBerry, has now lost ground to Apple Inc’s iPhone and devices running Google Inc’s Android software.
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