Changes in Financial Fortune
In the fourth quarter of fiscal year ended March 3, 2012, RIM shipped 11.1 million BlackBerry smartphones, down 21 percent from the previous quarter and it was the first decline in the quarter covering Christmas since 2006. For its fourth quarter, RIM announced a net loss of $125 million (the last loss before this occurred in the fourth quarter of fiscal year 2005). RIM's loss of market share accelerated in 2011 due to rapidly growing sales of Samsung and HTC Android handsets; RIM's market share in the USA dropped to just 3 percent from 9 percent a year.
On June 28, 2012, RIM reported its first quarter revenue for its 2013 fiscal year. The company incurred a GAAP net loss of $518 million for the quarter and plans to implement a $1 billion dollar cost saving initiative. The company also announced the delay of the new BlackBerry 10 OS to the first quarter of 2013.
On December 2, 2012, the company reported a decline in revenue of 5% from the previous quarter and 47% from the same period the previous year. The company reported a GAAP profit of $14 million (adjusted net loss of $115 million), an improvement over previous quarters. The company also grew cash to $2.9 billion, increasing it to nearly $600 million in the quarter. The global subscriber base of BlackBerry users declined slightly for the first time to 79 million, after peaking at an all-time high of 80 million the previous quarter.
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