RIM reports Q4 miss; Balsillie resigns as director, CTO and COO both out

By on March 29, 2012 at 4:45 PM.

RIM reports Q4 miss; Balsillie resigns as director, CTO and COO both out

With expectations at an all-time low and analysts lowering estimates left and right, Research In Motion on Thursday reported its results for the fourth fiscal quarter of 2012. RIM posted a surprising beat in the third fiscal quarter when it managed earnings of $1.27 per share on $5.2 billion in sales. At the same time, however, the Waterloo, Ontario-based BlackBerry maker issued worse than expected fourth-quarter EPS guidance of between $0.80 and $0.95, and it said revenue would likely fall between $4.6 billion and $4.98 billion. RIM has now confirmed adjusted net income of $0.80 per share, on revenue of $4.2 billion, down sequentially from $5.2 billion despite the launch of multiple new BlackBerry 7 smartphone models. Read on for more. More →

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Best Buy posts mixed Q4 earnings, plans to close 50 U.S. stores

By on March 29, 2012 at 8:21 AM.

Best Buy posts mixed Q4 earnings, plans to close 50 U.S. stores

Best Buy on Thursday reported results for the fourth fiscal quarter of 2012. The nationwide retail giant had missed Wall Street’s estimates in both the second and third fiscal quarters, and it posted mixed results in the fourth quarter. Revenue came in at $16.6 billion compared to analysts’ consensus of $17.15 billion, and non-GAAP earnings of $2.47 per share, up 25% from the same quarter in fiscal 2011, beating the Street’s $2.15 EPS consensus. “In order to help make technology work for every one of our customers and transform our business as the consumer electronics industry continues to evolve, we are taking major actions to improve our operating performance,” said Best Buy CEO Brian J. Dunn. “As part of our multi-channel strategy, we intend to strengthen our portfolio of store formats and footprints — closing some big box stores, modifying others to our enhanced Connected Store format, and adding Best Buy Mobile stand-alone locations — all to provide a better shopping environment for our customers across multiple channels while increasing points of presence, and to improve performance and profitability.” After jumping more than 3% in pre-market trading, shares of Best Buy stock were down 7% shortly after the market opened on Thursday. The company’s full press release follows below. More →

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RIM slashes BlackBerry prices in India one day ahead of Q4 earnings

By on March 28, 2012 at 1:35 PM.

RIM slashes BlackBerry prices in India one day ahead of Q4 earnings

Research In Motion has made drastic cuts to BlackBerry smartphone prices in India just one day before the Waterloo, Ontario-based vendor is scheduled to report its results for the fourth quarter of fiscal 2012. Several analysts expect RIM to miss Wall Street’s consensus when it announces its earnings results on Thursday, despite having issued lower than expected fourth-quarter guidance. The struggling smartphone vendor dropped prices on multiple models in India by up to 26%, BGR sister site BGR.in reported on Wednesday. Devices that have received price cuts include the BlackBerry Curve 9360, the Curve 9380, the Torch 9860 and the Curve 8520, RIM’s best-selling smartphone in India. RIM beat expectations in the third fiscal quarter when it reported revenue of $5.2 billion and earnings of $1.27 per share, but analysts are bracing themselves for a disappointing fourth quarter. More →

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RIM: ‘Grim and getting grimmer’

By on March 26, 2012 at 1:45 PM.

RIM: ‘Grim and getting grimmer’

Research In Motion is set to report its results for the fourth fiscal quarter and full fiscal year on Thursday, and Wall Street is bracing itself for another disappointing quarter. RIM’s fourth-quarter guidance came in worse than expected when the company posted its third-quarter results, and now several analysts are lowering their expectations even further. Pulling no punches, Barclays Capital’s Jeff Kvaal wrote in a note to investors titled “Grim and getting grimmer” that BlackBerry 7 sales have been poor thus far, and he has lowered his projections as a result. Read on for more. More →

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‘Be Bold’ is a bust: Ad blitz didn’t help BlackBerry 7 sales in February

By on March 5, 2012 at 12:05 PM.

‘Be Bold’ is a bust: Ad blitz didn’t help BlackBerry 7 sales in February

Research In Motion’s increased marketing efforts centered around its “Be Bold” campaign in North America have not paid off according to Canaccord Genuity. Sales of BlackBerry 7 smartphones, and specifically the BlackBerry Bold 9900 and Curve 9360, were poor in February, Canaccord analyst Mike Walkley wrote in a research note late Sunday night. “Our February checks indicated weak sell-through trends for BlackBerry 7 smartphones despite increased marketing efforts,” Walkley told investors. “With very strong share gains for the iPhone 4S, increasingly price-competitive Android smartphones, improving Windows smartphones, and the likely March 7 launch of the iPad 3, we anticipate increasing competition across all of RIM’s products during 2012.” Read on for more. More →

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Apple seen selling 31 million iPhones, 11 million iPads this quarter

By on February 17, 2012 at 7:15 PM.

Apple seen selling 31 million iPhones, 11 million iPads this quarter

Apple posted the most profitable quarter ever among technology companies to close out 2011 and according to a number of industry analysts, the Cupertino-based company is on track for another huge quarter to kick off the new year. Oppenheimer analyst Ittai Kidron on Friday raised his price target on shares of Apple stock to $570 from his earlier target of $510, maintaining his Outperform rating. Though Apple managed to ship a record number of iPhones and iPad tablets in its first fiscal quarter — more than 37 million iPhones and 15.4 million iPads —the analyst believes the market is anything but saturated. During Apple’s second fiscal quarter, Kidron sees the company selling 31 million iPhones and 11 million iPads into channels, which would ensure yet another huge quarter for the world’s most valuable company. “The iPhone 4S is consistently the most sought after phone at all three carriers in the U.S. based on our store checks,” Kidron wrote in a note to investors, according to Barron’s. “International demand also looks good with ample room to expand, particularly in China.” Apple recently lost smartphone share in China for the second straight quarter according to Gartner. More →

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A single share of Apple stock now costs more than an iPad

By on February 13, 2012 at 9:30 AM.

A single share of Apple stock now costs more than an iPad

The “Apple is worth more than” meme has gotten plenty of play over the past year, but a new measure of Apple’s success emerged on Monday that is as simple as it is monumental: a single share of Apple stock now costs more than an iPad. As of the open of the market on Monday, Apple’s stock rose just above $499 — the entry-level price of Apple’s iPad 2 — undoubtedly on its way to $500 and beyond. The Cupertino-based firm that once teetered on the brink of bankruptcy and was saved in part by a $150 million investment from Microsoft is now worth more than Microsoft and Google combined. Read on for more. More →

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Can smartphone vendors survive with Apple and Samsung dominating the industry?

By on February 9, 2012 at 10:00 AM.

Can smartphone vendors survive with Apple and Samsung dominating the industry?

Apple and Samsung are in the midst of a patent-fueled war with no end in site, but the pair has also inadvertently joined forces to make it increasingly difficult for other vendors to continue making smartphones. New estimates suggest Apple and Samsung combined to take in a staggering 95% of smartphone industry profits in the fourth quarter of 2011. The figures paint an even bleaker picture for the rest of the players in the smartphone business than earlier estimates; UBS analyst Maynard Um said last week that Apple and Samsung’s combined take amounted to 90% of smartphone industry profits. Read on for more. More →

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Carriers hate the iPhone

By on February 8, 2012 at 9:50 AM.

Carriers hate the iPhone

Apple’s iPhone is the most profitable product offered by the most valuable company in the world. With only three iPhone models in its lineup, the Cupertino-based technology giant shipped more smartphones last quarter than any other vendor in the world. Carriers that sell Apple’s sought-after smartphone enjoy huge activation figures each quarter as a result, but activations and unit sales don’t necessarily paint a complete picture. In fact, according to some industry watchers, carriers hate the iPhone. Read on for more. More →

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Sprint posts $1.3 billion net loss in Q4; 1.8M iPhones sold, 1.6M net subscribers added

By on February 8, 2012 at 7:35 AM.

Sprint posts $1.3 billion net loss in Q4; 1.8M iPhones sold, 1.6M net subscribers added

Sprint on Wednesday reported its results for the fourth quarter of 2011. The nation’s No.3 carrier sold 1.8 million iPhones, 40% of which were sold to new subscribers, and it managed 1.6 million total net subscriber additions in the quarter — its best performance in terms of customer acquisition since 2005. Sprint still posted a net loss of $1.3 billion in the quarter, however, or a diluted loss of $.43 per share. The carrier saw net operating losses increase to $438 million from $139 million in the same quarter a year earlier, and Sprint now has a total of 55 million subscribers including 33 million post-paid customers. The carrier notes that it recorded adjusted OIBDA of $842 million in the fourth quarter and $5.1 billion for the full year, representing the its first year of positive adjusted operating income since 2006. Sprint’s full press release follows after the break.

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Apple claimed a staggering 80% of mobile profit in Q4

By on February 7, 2012 at 12:10 PM.

Apple claimed a staggering 80% of mobile profit in Q4

Impressive data points from Apple’s record-setting holiday quarter continue to trickle out, and new estimates suggest that the company accounted for a staggering share of mobile profits in the fourth quarter of 2011. Morgan Keegan analyst Tavis McCourt wrote in a research note on Tuesday that Apple took in approximately 50% of all mobile industry revenues last quarter. Even more impressive, the analyst says Apple’s high-margin iPhone lineup accounted for more than 80% of all mobile phone profits. Read on for more. More →

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Samsung takes another page from Apple’s playbook: increase margins

By on February 7, 2012 at 10:20 AM.

Samsung takes another page from Apple’s playbook: increase margins

Apple has argued on multiple occasions that Samsung builds mobile products that “blatantly imitate the appearance of Apple’s products to capitalize on Apple’s success.” Courts seem to disagree for the most part, with only a pair of injunctions having been issued despite dozens of complaints Apple has filed around the world. There are some areas where Samsung does seem to take pages out of Apple’s playbook, however — Samsung’s new anti-iPhone ad strategy is somewhat reminiscent of Apple’s famous “I’m a Mac” campaign, for example — and market research firm Allied Business Intelligence may have uncovered another one this week. Read on for more. More →

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HTC slump continues in Q4; guidance misses Q1 estimates

By on February 6, 2012 at 7:25 AM.

HTC slump continues in Q4; guidance misses Q1 estimates

HTC on Monday reported earnings for the fourth quarter last year along with guidance for the first quarter that missed analysts’ estimates. Further highlighting the slump that began in October with the launch of Apple’s iPhone 4S, the Taiwan-based vendor posted fourth-quarter revenue of NT$101.42 billion, or approximately $3.5 billion USD, down 2.5% compared to the same quarter in 2010. Gross profit slid nearly 12% in the fourth quarter to NT$27.5 billion, and HTC’s total assets on hand at the end of the year slid more than 33% to NT$254.59 billion. In the first quarter of 2012, the vendor expects the rough patch to continue ahead of new product launches due later in the first half. HTC said first-quarter sales will likely fall between NT$65 billion and NT$70 billion while Wall Street expected guidance of approximately NT$85 billion. More →

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