RIM to refocus onto corporate customers

Blackberry-maker Research in Motion (RIM) has announced that it plans to refocus its business back onto corporate customers after reporting a quarterly loss, as revenues fell due to sharply lower smartphone sales.

The Canadian company made a net loss for the three months to 3 March of $125m (£78m), compared with a profit of $934m a year earlier.It has lost ground as its traditional business clients have switched staff to iPhones or Android smartphones.

RIM also announced the resignation of former co-chief executive Jim Balsillie.

Chief technology officer David Yacht will also be standing down.

Shipments of Blackberry smartphones in the quarter fell to 11.1 million, down 21% from the previous three-month period.

Shipments of the company's Playbook tablet hit 500,000, largely due to substantial discounting.

For the full financial year, the RIM made a net profit of $1.2bn, down from $3.4bn in the previous year.

The results were worse than analysts had expected and shares in the company fell as much as 9% in after-hours trading in New York. They have fallen by 80% over the past year.