Profits shrink for Blackberry maker
Shares tumble as Canadian technology giant faces stiff competition from Apple’s Iphone.
Published On 17 Jun 2011
There’s bad news for Blackberry maker Research In Motion (RIM).
Shares of the Canadian technology giant tumbled after miserable first quarter profits, and a plan to cut jobs is in the works.
Despite millions of people around the world owning a Blackberry, the company is facing intense pressure from Apple’s rival Iphone.
RIM fell far short of Wall Street expectations and is warning jobs could now be at risk.
Al Jazeera’s John Terret has more from Toronto, Canada.
Source: Al Jazeera