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

March 29th, 2012

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, …

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

March 29th, 2012

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 …

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

March 28th, 2012

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 …

Digital music sales grew 8% in 2011, now total 31% of industry revenue

March 27th, 2012

The past year was a good year for the music industry as sales rose to their best highest point in eight years. According to the IFPI’s annual Recording Industry In Numbers report, revenue from physical media fell by 8.7%, compared with 13.8% in 2010, but were vinyl sales up nearly 29%. Digital revenue continued to …

RIM: ‘Grim and getting grimmer’

March 26th, 2012

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 …

Sprint’s board is watching CEO Dan Hesse closely amid investor unrest

March 13th, 2012

After five years at Sprint’s helm, CEO Dan Hesse’s effectiveness is being called into question. While Hesse and his team have managed to stall subscriber defection, revenue continues to decline. With flops in Clearwire, WiMAX, LightSquared and a risky $15.5 billion gamble on Apple’s iPhone, Sprint investors fear the CEO may not have what it takes …

HTC’s struggles continue, revenue plummeted 45% so far this year

March 6th, 2012

HTC’s revenue during the first two months of 2012 has plummeted 45% compared to the same period last year. The popular vendor on Tuesday published its unaudited results for February 2012, during which it pulled in an estimated NT$20.3 billion, down 37% from the NT$32.1 billion it earned in the same month a year earlier. HTC’s …

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

March 5th, 2012

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 …

HTC sees negative smartphone sales trend reversing thanks to HTC One phones

March 1st, 2012

HTC is confident the company’s new One series smartphones will rescue the company from slowing sales, propelling it to the No.5 smartphone vendor spot and beyond. “We are confident this year will be … a much better year,” HTC’s chief of European operations Florian Seiche said to Reuters. “Even with the Q1 not being the ideal fast start right …

Apple named ‘World’s Most Admired Company’

March 1st, 2012

Fortune on Thursday published its list of the “World’s Most Admired Companies” and as expected, Apple came in on top. “To say it was another big year for Apple would be a gross understatement,” the publication stated. “With the passing of Steve Jobs, questions swirled around the company’s future. But under new CEO Tim Cook’s …