RIM shares plunge as investors question BlackBerry sales
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Xinhua, June 18, 2011
Shares in Research In Motion Limited (RIM), the the BlackBerry maker, tumbled over 16 percent on Friday, as investors reacted to uncertainty about the company's future.
RIM announced Thursday that it would cut jobs as it works to roll out a new generation of products to stay competitive.
The stock slide came after the news as analysts were questioning whether RIM can promote its smartphones product lineup in the face of intense competition, especially from Apple's iPhone.
RIM was expected to deliver its smartphones with upgraded operating systems in late August and September. But investors still remain concerned that the company's future sales would face a down trend.
The company's first quarter profit was 695 million dollars, almost the same as previous expectations. Its stock has been under siege for several months.
