RIM plans new focus following financial losses

Blackberry-owner RIM has reported revenue of $18.4 billion, down 7% from $19.9 billion in 2011.

Net income was $1.2 billion, compared with $3.4 billion the previous year. The Q4 results show revenue was down 19% on Q3 to $4.2 billion – and there was a quarterly loss, its first in recent history, of $125 million.

Shipments of new BlackBerrys were down a by 21% on Q3 to just 11.1 million units. RIM’s fourth quarter also runs from 3 December to 3 March so includes the majority of the Christmas sales period.

Wall Street analysts had forecast revenues of around $4.6 billion and earnings of 82-83 cents per share. In the end, RIM posted revenues of $4.2 billion and 80 cents. Stock fell 8% following the news.

As a result, RIM has said it plans to refocus its business back onto corporate customers.