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RIM May Need To Write Off $1 Billion In Inventory

Posted by Soulskill on from the build-a-fort-out-of-blackberrys dept.

benfrog writes "Blackberry maker Research in Motion may need to write off more than $1 billion in inventory, according to Bloomberg. The potential 'writedown' comes after RIM took a $485 million pretax charge to write down the value of its PlayBook inventory in December. RIM has said it aims to save $1 billion in operating costs this fiscal year by cutting its number of manufacturing sites and is 'reviewing its organizational efficiency' across the company, which may lead to job cuts of 2,000-3,000. Its shares have tumbled 75 percent over the past year and are down 90 percent from their all-time high."

3 of 220 comments (clear)

  1. Re:What's With All The RIM Hate? by tibit · · Score: 3, Funny

    Apparently, Blackberry-the-smartphone is not enough to keep RIM afloat. There you go.

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    A successful API design takes a mixture of software design and pedagogy.
  2. Re:What's With All The RIM Hate? by Nexzus · · Score: 5, Funny

    In the end, they will probably file chapter 11 and leave the debt with the US taxpayers.

    I know it's hard to believe, but RIM is a Canadian company.

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    Karma: Can only be portioned out by the Cosmos.
  3. Re:HP should buy them by LordLucless · · Score: 4, Funny

    What does HP have to offer though? Google already has all the people who did WebOS. Who should Google work with at HP? The middle management?

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    Just because you're paranoid doesn't mean there isn't an invisible demon about to eat your face