RIM stock plunges after $518M loss and BlackBerry 10 delay
Research in Motion's stock price plunged 19% early Friday following RIM's announcement late yesterday of a $518 million first quarter loss and that its BlackBerry 10 smartphone has been further delayed.
At 11 a.m. EDT today, RIM's share price had dropped to $7.39 as investors reacted to Thursday's financial results that showed sharply lower revenue and a $518 million loss in the quarter ending in May.
Meanwhile, Reuters reported overnight that RIM may be considering a switch from its proprietary mobile operating system to the Windows Phone OS for future smartphones. Read more...
Samsung delays new Android model release after Jobs’s death
Samsung Electronics Co said on Monday it had delayed the launch of a new smartphone based on Google's latest version of the Android operating system while the world pays tribute to Apple co-founder Steve Jobs who died last week.
The delay also comes as an intensifying legal battle between Apple and Samsung reaches a crucial point this week, when the two technology giants will meet in courtrooms in the United States, the Netherlands, Australia, South Korea and Japan.
Samsung had planned to introduce the new product based on the Ice Cream Sandwich system, which will unite the Android software used in tablets and smartphones, at its Mobile Unpack event in San Diego on Tuesday.
"We decided it was not the right time to announce a new product while the world was expressing tribute to Steve Jobs's passing," a Samsung spokesman said. Read more...
Microsoft explains phone software update delay
Microsoft Corp explained the delay in updating its new phone software on Wednesday, partly blaming handset manufacturers for the problem.
Windows Phone 7, launched last October as Microsoft's attempt to catch up with Apple Inc and Google Inc in the smartphone market, was well received, but criticized for lack of some basic functions such as cut and paste.
Microsoft initially said an update to the software would be available early in 2011, but it has not yet been implemented for many users.
"We had expected it to be earlier than now," Joe Belfiore, head of Microsoft's Windows phone program, said at a software developer conference in Las Vegas on Wednesday. Read more...