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Exclusive: Microsoft Tie-Up, Network Sale Among RIM Options: Sources (Reuters)
Research In Motion Ltd’s board is under mounting pressure to consider unpalatable options such as selling its network business or forming an alliance with Microsoft Corp after the Blackberry maker again delayed the release of its next-generation smartphones, said three sources familiar with the situation. RIM said the launch of BlackBerry 10 mobile devices has been postponed to early 2013 — more than a year later than initially promised — because the development of its new operating system had “proven to be more time-consuming than anticipated.” CNN Money The company reported a first-quarter loss of $518 million, or 99 cents a share. Overall sales came in at $2.8 billion, down 43 percent from $4.9 billion in the same quarter a year ago and considerably lower than analysts’ expected first-quarter revenue of $3.1 billion. Gizmodo The worse news: It’s now letting 5,000 employees go, on top of the 2,000 cuts that had been previously announced. Wall Street Journal According to interviews with more than a dozen former RIM executives and industry executives who worked closely with the company, it was a blinding confidence in the basic BlackBerry product that was at the root of RIM’s current troubles. continued…
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