Research In Motion (RIMM) fallout after BlackBerry setbacks

While the success of Apple’s products continues to rise, the future doesn’t look as bright for rivals Research In Motion (RIMM) manufacturers of the popular BlackBerry smartphones. It appears their latest revenue estimates have revealed missed targets and have been forced setbacks.

The company says a lack of new devices is forcing customers to buy products from other rival manufacturers and in response will be making job cuts. According to the article at The Washington Post, stock fell by 16% on the trade market.

RIM appears to be struggling for a significant share in smartphone market as Android and Apple devices continue to dominate. The main reason for this is being put down to the fact that the company has not brought out a major new model since August last year.

Organizational changes are also said to be on the agenda in order for improvements to take place. This means the release of new products will happen more often. Also a number of jobs will be cut in order to boost profits which will appear by the end of the third quarter.

Check out the full article at The Washington Post for more details on the situation. What else could be done to help the progress of RIMM?