BlackBerry maker to focus on business market

RIM has been struggling as Americans abandon their BlackBerrys for flashier touch-screen phones such as Apple's iPhone and models that run Google's Android software. BlackBerrys had been popular among business customers, in large part because of their security. But RIM has had limited success trying to enter consumer markets in recent years. The company admitted in a conference call that "some BlackBerry models are not selling as well as anticipated". RIM will also cease giving financial forecasts. "We plan to refocus on the enterprise business and capitalize on our leading position in this segment," chief executive Thorsten Heins said. We believe that BlackBerry cannot succeed if we tried to be everybody's darling and all things to all people. Therefore, we plan to build on our strength." Mr Heins added that he wanted BlackBerry's to be an "aspirational object of desire for people who need to achieve." BlackBerrys are even losing ground in the business world, as employees demand iPhones or Android devices over BlackBerrys. Apple sold 37m iPhones in the last three months of 2011 - more than what RIM shipped in the past three quarters combined. RIM shipped 11.1m BlackBerrys in the latest quarter, which ended March 3. Heins, who refused to rule out a sale of the business, made the remarks after RIM announced quarterly results that fell short of Wall Street expectations. RIM said it had a net loss in the latest quarter because of writedowns for the declining value of its brand and its PlayBook tablet inventory. Net loss was $125m, or 24 cents a share, in the quarter that ended March 3. This compares with $934m, or $1.78 per share, a year ago. Adjusted income was 80 cents per share, a penny short of expectations from analysts polled by FactSet. Revenue fell 25pc to $4.2bn from $5.6bn. Analysts were expecting $4.54bn. The results are Heins' first since taking over the top job in January. Olin Gillis, an analyst at BGC Partners in New York, said: "The results are in line with expectations, which were weak already. But it's not just these results. The forward outlook continues to be bleak. Next quarter it's going to be more of the same. There's no sign of a turnaround." RIM said former co-chief Jim Balsillie has resigned from its board. David Yach, chief technology officer for software, and Jim Rowan, chief operating officer for global operations, also are leaving in a management shake-up.