News of the departure of CEO founder Mr. Jim Balsillie, and news that Research in Motion is seeking strategic alternatives sent shares in the BlackBerry maker sharply higher during Friday's trading session. Still over 70% down from its year ago price, the Canadian technology titan is giving shareholders a brief sigh of relief.
500,000 PlayBook tablets were shipped last quarter, well above the 150,000 shipped during the previous quarter. With the release of the 2.0 software upgrade, along with price reductions, demand is starting to pick-up.
Research in Motion ended the quarter with 77 million subscribers, which is an increase from the 75 million it had at the end of last quarter.
RIM's revenue for the quarter was $4.2 billion, which is at the higher end of analyst expectations.
BlackBerry 10 is still on track for release later this year, which will give a much needed boost to its revenues and subscriber base.
Lower-end BlackBerry 7 models are being developed for the many foreign markets to help stem erosion from new competition, such as many low-end Android models.
Desperately, however, the company still needs a more targeted and forceful marketing initiative. So many consumers are swayed by games and gimmicks on their devices, which has not been BlackBerry's hallmark. Going forward, the company needs to find a way to attract a more fickle audience... less concerned with quality and more concerned with fashion and fun.
Happy Investing and Happy Friday : )