RIM Hires Bankers to Explore Options
Research In Motion today provided a little bit of guidance ahead of its second quarter close and results. In a press release sent to investors, RIM CEO Thorsten Heins explained that the company has hired banking firms to explore its options moving forward. In a statement, the company said, "To further enhance our commitment to successfully completing our transformation, we engaged J.P. Morgan Securities LLC and RBC Capital Markets to assist the Company and our Board of Directors in reviewing RIM’s business and financial performance. These advisors have been tasked to help us with the strategic review ... and to evaluate the relative merits and feasibility of various financial strategies, including opportunities to leverage the BlackBerry platform through partnerships, licensing opportunities and strategic business model alternatives." Heins said that though the company is facing significant challenges, it believes that the launch of BlackBerry 10 will help bolster the company's long-term survival. The company recently revealed that it may have to write-down $1 billion in unsold BlackBerry smartphones and tablets that remain in inventory.
Japan's SoftBank to Buy UK's ARM for $32 Billion
SoftBank today announced plans to buy ARM Holdings for $32 billion. SoftBank runs one of Japan's largest wireless networks and is the parent company of Sprint in the U.S., while ARM designs and licenses the Cortex-branded mobile processors often found in today's smartphones and tablets.
Yahoo to Consider 'Strategic Alternatives' for Internet Biz
Yahoo has announced plans to explore strategic options for its internet business, which has struggled to turn a profit in recent years. The company said it plans to improve consumer and advertiser product quality while also increasing the number of daily users.
BlackBerry and Cisco Forge Patent Cross-Licensing Pact
BlackBerry and Cisco today announced that they have signed a long-term patent cross-licensing agreement. The agreement applies to a number of products and technologies, though the companies didn't specify which ones.
BlackBerry Trims More Workers
BlackBerry has cut an unspecified number of employees at two facilities. The company confirmed that it let employees go at its Waterloo headquarters, as well as at a plant in Sunrise, Fla.
BlackBerry Cutting More Jobs, Including Device Team
BlackBerry announced another round of job cuts on Friday, this time affecting those behind making the company's smartphones and mobile applications. BlackBerry did not say how many employees will lose their jobs, nor in which facilities, but said the cuts will reach its operations across the globe.
Man, I wanted rim to pull their head out, so bad
"The company recently revealed
What exactly does it mean by 'write-down?'