RIM has decided to refocus its efforts to the enterprise market after reporting a net income loss of $125 million for the quarter ending 3 March.
The BlackBerry smartphone maker is rejigging its strategy after getting bowled over by Apple's iPhone and Google's Android devices. It shipped 11 million BlackBerrys in Q4, down 21 percent compared to Q3.
RIM CEO Thorsten Heins, who has been on the job for a matter of weeks, said the turnaround requires 'substantial change'.
Heins said: "We plan to refocus on the enterprise business and capitalise on our leading position in this segment. 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."
Another change in the company is the resignation of former co-CEO Jim Balsillie after 20 years of service. "As I complete my retirement from RIM, I'm grateful for this remarkable experience and for the opportunity to have worked with outstanding professionals who helped turn a Canadian idea into a global success." said Balsillie.
RIM's David Yach and Jim Rowan have both left from their positions of CTO and COO, respectively. Looking forward RIM said it expects "continued pressure on revenue and earnings" over the next year.
However, Heins has a positive outlook saying: "I’m very excited about the prospects for the BlackBerry 10 platform, which is on track for the latter part of calendar 2012. Notwithstanding these strengths and opportunities, the business challenges we face over the next several quarters are significant and I am taking the necessary steps to address them."
RIM sold 500,000 PlayBook's during the quarter which as far as we know will continue to be supported since the BlackBerry 10 operating system is bound for the tablet.
After many of the reports on the story across the internet stated that RIM was pulling out of the consumer market, the firm has sent out the following statement.
Patrick Spence, SVP and managing director of Global Sales and Regional Marketing at RIM said, "The claim that RIM has said it will withdraw from the consumer market is wholly misleading. Whilst we announced plans to re-focus our efforts on our core strengths, and on our enterprise customer base, we were very explicit that we will continue to build on our strengths to go after targeted consumer segments. We listed BBM, as well as the security and manageability of our platform, amongst our strengths."