RIM looking to JPMorgan for life support, report says

From CNET News.com: Research In Motion CEO Thorsten Heins has decided he needs some outside input on the company's strategy, according to a new report.

The BlackBerry maker is currently nearing a decision to pick a financial adviser that will help it make strategic decisions, according to Bloomberg, citing sources. JPMorgan Chase is the front-runner in RIM's list of choices, and could be named its adviser within the next couple of days, the news agency is reporting.

RIM's reported decision to bring on a financial adviser comes just a few weeks after the company posted a bleak fiscal fourth quarter that saw the firm lose $125 million, down from a $934 million profit in the previous year. In addition, RIM reported that revenue was down 25 percent to $4.2 billion and BlackBerry shipments fell 80 percent to 11.1 million units.

"It's clear to me substantial change is what we need," Heins, who replaced co-CEOs Jim Balsillie and Mike Lazaridis earlier this year, said in a statement.

According to Bloomberg's sources, the "substantial change" Heins cited might include RIM licensing the BlackBerry mobile operating system to third-party vendors. If the licensing doesn't work out, the company could try to find a strategic investor to help boost its cash flow and allow it to invest in other growth areas, the publication's sources claim.

View: Article @ Source Site