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.
Man, I wanted rim to pull their head out, so bad
"The company recently revealed
What exactly does it mean by 'write-down?'