RIM Earnings Plunge Again
Thursday brought a double dose of more bad news for BlackBerry maker Research in Motion. The company reported a 70 percent drop in profit, and also admitted that the next generation of its smartphones, BlackBerry 10, will not arrive until late 2012.
The company reported a $265 million profit in the quarter, which was attributed to both the BlackBerry Playbook price cut and costs associated with the global service interruption the company suffered in October, the New York Times reported.
Both of the company's chief executives have agreed to cut their pay to $1.