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RIM warns of losses and job cuts

  • Blackberry smartphone maker Research in Motion (RIM) has warned it will make a loss in its latest quarter and cut a significant number of jobs.

    The Canadian firm added it was hiring JPMorgan and RBC Capital Markets to assist with a "strategic review" of the business.

    Speculation has been mounting that the strategic review may lead to a sale of the company.

    In recent years, RIM has lost market share to rivals such as the iPhone and Android.

    In the last financial year, RIM made a net profit of $1.2 billion, down from $3.4 billion the previous year.

    The launch of Blackberry 10, due to be released later this year, along with a new operating system are seen as crucial to its turnaround plan.