RIM Shaken Following Weak Outlook
The stock of Research In Motion plunged in extended trading Thursday after the BlackBerry maker said the cost of launching new smart phones would eat into near-term profits. The company is launching three major new models in the current quarter, and the cost of ramping up production will trim the company’s gross profit margin, co-Chief Executive Jim Balsillie said. “We really just pack it full of features and cost-reduce later,” Balsillie said of the new models. “There will be an impact on hardware gross margin.”
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RIM Shaken Following Weak Outlook
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