Research In Motion's smartphone strategy lies in tatters today after the firm conceded its BlackBerry 10 operating system will be delayed to at least the first quarter of calendar 2013.
Widely considered RIM's best hope of salvation in the face of the iPhone - Android axis, the latest delay to BlackBerry 10 will be seen as yet another blow to the struggling mobility hardware specialist, and is welcome news to competitors.
The news came on a quarterly results call that laid bare the sheer scale of the unfolding disaster at RIM; sales of $2.4bn (£1.5bn) were down 43% year-on-year, and GAAP net losses widened over the previous quarter, hitting $518m.
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CEO Thorsten Heins said he was "not satisfied with these results, and will continue to work aggressively with all areas of the organisation and the Board to implement meaningful changes to address the challenges".
The firm also announced it will be axing 5,000 employees as part of the Cost Optimisation and Resource Efficiency (CORE) programme that it first announced back in March.
It hopes to save $1bn by the end of fiscal 2013 through a combination of management rationalisation, supply chain streamlining, outsourcing its repair programme and other functions to be determined, and more targeted use of its sales and marketing budget.