Bad news got worse. RIM announced its recent quarter (Q1-2013 FY): 1/3rd lower revenue quarter over quarter, loss of half a billion (net loss of $192M), and more importantly, another delay of BB10, which was supposed to come out in the second half of this calendar year.
In a hyper-competitive mobile world where Android and iOS improvements come fast and hard, RIMM is going the opposite direction and slowing down. At this point, it doesn't even matter if BB10 comes out, because by the time it does, it will already be old.
After-hours trading on NASDAQ, RIMM is down nearly $1.70.
Here's how far they've fallen. In all of three months, RIM sold just 7.8M smartphones across its entire lineup. Yesterday Google announced that it was activating 1M phones a day; earlier this week Samsung said it would sell 10M GS-III phones in under two months. This slowdown of sales will only accelerate as people lose confidence that RIM will be around in a year.
RIM will not survive the year.
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