Beleaguered “Research In Motion Ltd.’s stockpiles of BlackBerry smartphones and PlayBook tablets have swollen by two-thirds in the past year because of slumping sales, raising the chances of the company’s third writedown since December,” Hugo Miller reports for Businessweek.
“The value of RIM’s in-house supplies grew 18 percent last quarter alone, a faster rate than at any other company in the industry, according to data compiled by Bloomberg,” Miller reports. “And that doesn’t include the BlackBerrys gathering dust at RIM’s carriers and retail partners. Apple Inc., meanwhile, saw its inventory decline 11 percent in the period from the previous three months.”
Miller reports, “RIM faces an exodus of customers switching to Apple’s iPhone… RIM took a $485 million pretax charge to write down the value of its PlayBook inventory in December, after shipping just 150,000 of the tablet computers in the quarter. Then in March, the company recorded a $267 million expense for BlackBerry inventory. RIM said at the time that it would stop giving sales and profit guidance because of ‘ongoing weakness’ in the U.S.”
Read more in the full article here.
MacDailyNews Take: Buh-bye, beleaguered RIM.
Beleaguered RIM to axe at least 2,000 jobs – May 27, 2012
Beleaguered RIM’s head of global sales departs BlackBerry maker – May 23, 2012
Beleaguered RIM misses badly on revenue, EPS, unit shipments; Former half-CEO Balsillie resigns; CTO, COO also out – March 29, 2012
Another senior executive exits beleaguered Research In Motion – October 28, 2011
Two more senior staff exit beleaguered BlackBerry maker RIM – September 29, 2011