Research In Motion announced its latest quarterly financial results yesterday, and they were pretty gruesome. While it made $4.2bn of revenues, that was down 25% year-on-year, based on 11.1m BlackBerry shipments and 500k BlackBerry PlayBook tablets. RIM posted a net loss of $125m for the quarter, compared to a $934m profit this time a year ago. Recently-installed CEO Thorsten Heins didn’t mince his words in the ensuing analyst call. “I’ve been the CEO of RIM for just over 10 weeks now. It is now clear to me that substantial change is what RIM needs.” That change includes the departure from RIM’s board of former co-CEO Jim Balsillie – the key face of BlackBerry music initiatives in the past. Talking of music, Heins suggestion that RIM needs to “refocus on enterprise” may not be good news for its BBM Music service.

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