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Research In Motion to Drop most consumer markets
03/30/2012 : BLACKBERRY PARENT TO DROP CONSUMER MARKET
Research In Motion to concentrate on business markets in future.
Research In Motion, the company that pioneered the smartphone era with its ubiquitous Blackberry product, shocked the market late Thursday with its announcement that it is to cede most consumer markets, which have become intensely competitive, instead concentrating on a primarily business services model.
In a statement, Toronto-based RIM chief exec Thorsten Heins said a turnaround of the company's struggling business required "substantial change."
"We plan to refocus on the enterprise business and capitalize on our leading position in this segment," Heins said. "We believe that BlackBerry cannot succeed if we tried to be everybody's darling and all things to all people. Therefore, we plan to build on our strength."
RIM said former co-CEO Jim Balsillie has resigned from its board, and revealed that David Yach, chief technology officer for software, and Jim Rowan, chief operating officer for global operations, also are leaving in a management shakeup.
Industry observers have noted that whilst BlackBerrys are respected for their security and reliability as email devices, they haven't kept pace with iOS or Android phones when it comes to running third-party applications.
The RIM statement advised that the firm is exploring partnerships and other opportunities for its existing consumer business in order to focus on the corporate customers.
"We can't do everything ourselves, but we can do what we're good at," Heins said at a subsequent conference call following the release of the latest disappointing results by the company.
RIM turned in a net loss of $125 million in the quarter that ended March 3. This compares with a positive $934 million in the comparative period a year ago. The company revealed that revenue fell 25 percent to $4.2 billion from $5.6 billion.
Danske Spil Bingo Moves to Microgaming -
The national lottery of Denmark, Danske Spil, is live on the Microgaming Bingo Network. Danske Spil, the Danish national lottery, is live on the Microgaming Bingo Network following a change to its licence conditions.
Quickfire live on Strendus -
Quickfire powered by Microgaming is extending its reach in the LatAm region with the signing of Strendus. Strendus is the online division of Logrand Entertainment Group. The group comprises several companies that operate gaming and entertainment establishments in Mexico, running 14 land-based casinos in total.
Quickfire content live on BetatHome -
Online gaming and sports betting company bet-at-home was founded in 1999. Today the company has 4.8 million registered customers around the world, offering sports betting, casino, live casino, Vegas games, poker and virtual sports.
Microgaming has donated £30,000 between four charities -
Gift of Giving provides Microgamingís customers the opportunity to vote for one of several charities in their region. In lieu of Christmas gifts, £30,000 is split equally between four global regions: Isle of Man, UK and Europe, Africa, and Rest of the World.
Entertainment Betting Odds: 90th Academy Awards -
The Shape of Water leads Sundayís 90th Academy Awards (8 PM ET, ABC) with 13 Oscar nominations, but when it comes to Best Picture, this highly-acclaimed film is a +140 second-favorite behind Three Billboards Outside Ebbing, Missouri at Ė115.
Fair Play Bets and QuickFire in Deal -
Fair Play Bets enjoys an unrivalled reputation for an outstanding player experience, with secure deposits and withdrawals, surprising casino bonuses and committed customer support. Fair Play Bets is licensed in UK, Malta and Curacao.
Cavaliers Aim to Take Down Wizards on 2/22/18 -
The Cleveland Cavaliers have looked like a different team since making their moves at the trade deadline. The Washington Wizards are up next for the Cavaliers, who will be at home after the All-Star break.
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