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Research In Motion who, like Nokia, is struggling to hold onto marketshare in the Smartphone market, is planning to slash staff after reporting poor sales of their Blackberry phone.Shares tumbled 15 percent to $30 in after-hours trading, after closing at $35.33 on the Nasdaq Stock market Thursday.
RIM who are currently rolling out their PlayBook tablet in Australia said it shipped about 13.2 million BlackBerrys in the first quarter. That was worse than its late-April projection for shipments to be at the lower end of the 13.5 million to 14.5 million range it gave in late March.
RIM also said it would begin a program to “streamline operations across the organisation” including headcount reductions.
The Wall Street Journal said that RIM cut its first-quarter guidance in late April, just a month after releasing projections for the quarter along with its fourth-quarter results. It said Thursday that the challenging conditions it saw in the first quarter are continuing into the second quarter.
Shipments of the PlayBook, launched April 19, were about 500,000 units, better than the average estimate of 400,000 units from analysts.
