RIM 'lost money' on BlackBerry sales
After studying Research In Motion's (RIM) latest data, an analyst has claimed that the firm likely lost money on its sales of BlackBerry smartphones and PlayBook tablet computers.
Gross margins on such devices fell to 20 per cent in the fiscal year that ended in early March, which compares to 36 per cent in the previous year.
Revenue for the company was down 19 per cent in the fourth quarter, while shipments of the smart mobile phones also decreased by 21 per cent.
Analyst at investment banking firm Jeffries Peter Misek estimates that after assigning operating costs and including inventory charges, the hardware division likely spent four per cent more than it took in, Reuters reports.
"The other key thing from this is that it's not likely to get better anytime soon, because until BB 10 devices are out they're going to have to keep cutting prices," Misek said in a telephone interview.
Posted by Samantha Green
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