RIM, Nokia, China Mobile – News briefs
By Chantal Tode
December 24, 2012
News and notes of the day
RIM posts profits but loses subscribers
Research In Motion’s third quarter results were better than expected, with the company reporting a net income of $9 million, or $0.02 per share diluted, compared with a net loss of $235 million, or $0.45 per share diluted, in the prior quarter. In the same quarter last year, RIM posted a net income of $265 million, or $0.51 per share diluted.
Third quarter revenues for the company totaled $2.7 billion, down 5 percent from the previous quarter and 47 percent from the same period a year ago.
RIM also reported that it lost approximately 1 million BlackBerry subscribers during the third quarter for a total of 79 million global subscribers. RIM shipped approximately 6.9 million smartphones and 255,000 PlayBook tablets during the quarter.
RIM said it would introduce a new tiered plan for the service fees it charges customers for using its network.
The company faces significant challenges in the competitive smartphone market, where it has been losing market share. RIM is pinning its hopes of a turnaround on the launch next year of its new operating system, BlackBerry 10.
Nokia, RIM reach agreement to end patent infringement suit
Nokia has reached a patent license agreement with Research In Motion, with the latter agreeing to a one-time payment and on-going payments to Nokia for its mobile technology.
The licensing agreement settles an ongoing patent dispute between the two companies. Nokia announced in November that it was suing RIM for breach of contract in the United States, Canada and Britain relating to a previous patent agreement.
"This agreement demonstrates Nokia's industry leading patent portfolio and enables us to focus on further licensing opportunities in the mobile communications market,” said Paul Melin, chief intellectual property officer at Nokia.
China Mobile, Bank of China to deploy NFC mobile payments
China Mobile and Bank of China will deploy NFC payment and mobile marketing in Shen Yang, China using VeriFone’s payment and marketing platforms.
China is the world largest mobile payments market, with more than 150 million subscribers. Through the program, consumers will be able to pay at bricks-and-mortar merchants with the mobile wallet in an open loop environment.
The wallet will also be integrated with the VeriFone Mobile Marketing Platform, so that any merchant will be able to distribute highly targeted offers to wallet subscribers with electronic redemption data.
VeriFone mobile marketing platform can be integrated with multiple wallets, mobile apps and acceptance networks.
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