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Thorsten Heins, CEO of Research In Motion, is pictured in New York in January, 2013. The company’s first quarter earnings failed to meet analyst expectations after the much-hyped release of its new operating system.
Thorsten Heins, CEO of Research In Motion, is pictured in New York in January, 2013. The company’s first quarter earnings failed to meet analyst expectations after the much-hyped release of its new operating system.
(Mark Lennihan/AP)

RIM still in ‘early stages of its transition,’ Heins says

Research In Motion Ltd.’s turnround faltered as the Canadian smartphone maker failed to report a profit in the first quarter which sent its shares tumbling more than 26 per cent in early trading.

The Waterloo, Ont.-based company, which launched its new BlackBerry 10 operating system five months ago, reported a net loss of $84-million (U.S.), or 16 cents a share, in the three months to June 1 compared with a loss of $518-million, or 99 cents a share, a year earlier.