Blackberry maker Research in Motion is not in a "death spiral", said company CEO Thorsten Heins, according to a report.
“There’s nothing wrong with the company as it exists right now,” Heins said during a CBC Radio interview Tuesday.
The business and management changes RIM has made since Heins took over as CEO in January are not signs of the company dying, but rather signs of a company in transition, Heins said.
“This company is not ignoring the world out there, nor is it in a death spiral,” Mr. Heins said. “Yes, it is very, very challenged at the moment, specifically in the U.S. market. The way I would describe it, we’re in the middle of a transition.”
RIM reported a quarterly net loss of $192 million and also announced it would shed 5,000 jobs. In addition, RIM's latest smartphone, the Blackberry 10, will suffer a delayed launch, the company said. The new mobile device will now launch in 2013. It was originally planned to debut later this year.
Payments provider Square is in the process of raising capital at a $6 billion valuation, according to sources familiar with the matter.
Apple is preparing to roll out a larger, 12.9-inch version of its iPad for 2015.
AT&T is merging its wireless and business divisions into a single unit led by Ralph de la Vega, former CEO of the company's wireless segment.
Time Warner Cable is experiencing multiple outages nationwide, the company said on Wednesday, but did not specify the nature of the problem.
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