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RIM 11 percent stock loss after BlackBerry poor sales

Earlier today we gave you the news of RIM’s increasing stockpiles of BlackBerry phones and PlayBooks and concerns that increasing amounts of customers will quit the BlackBerry platform in favor of Apple’s iOS or Android. Now we have further news that creates yet more concern about RIM’s future as there has been an 11% stock loss after poor BlackBerry sales.

RIM shares have now plummeted after reports of a surprise loss and RIM fell 11% on predictions of an operating loss over the first quarter, which would be the company’s first operating loss since 2004. News that RIM is also in talks with banks for help with strategic options has also caused concern. RIM announced the move in a statement yesterday saying that both JPMorgan Chase & Co. and RBC Capital Markets have been hired in this respect. As we mentioned previously RIM is also reducing its workforce and cutting spending, all efforts to streamline operations.

Bloomberg reports that analysts had forecast a profit of $261 million for the period ending June 2. Avian Securities analyst Matt Thornton said that RIM were, “trying to telegraph that expectations are too high and that the next few quarters are going to be very challenging.” At 09:43 New York Time RIM shares fell to $10.04 and over the last 12 months stock has fallen in value by a massive 74%.

A “person with knowledge of the matter” said that RIM has no plans to sell itself and may license its BlackBerry software or find a strategic investor. However National Bank Financial analyst Kris Thompson says that the news of RIM hiring bankers “means RIM is for sale,” while another analyst from Robert W. Baird & Co., William Power, feels that RIM may “struggle to attract buyers.”

There certainly seems to be a lot riding on the success of the upcoming BlackBerry 10 OS and related devices but things are certainly looking grim for RIM right now. Send us your thoughts about RIM’s falling fortunes and whether you think the company will manage to turn itself around.

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