Toronto-based original device manufacturer Celestica on Monday announced that it will stop producing hardware for struggling mobile device vendor Research In Motion.
Celestica stated that it will wind down manufacturing services related to BlackBerry devices over the next three to six months, and it expects restructuring charges to be less than $35 million. RIM reported earnings for its fourth fiscal quarter in late March, missing expectations and painting a bleak picture for its first two quarters in fiscal 2013.
The vendor also announced that it would take a $1 billion charge related to unsold BlackBerry device inventory. RIM will not launch its first BlackBerry 10 smartphone until late this year, and industry watchers are expecting stiff competition from Apple’s next iPhone and a variety of new Android smartphones. Some contents from Celestica’s June 18 press release follows below.
“Celestica Inc. (NYSE, TSX: CLS), a global leader in the delivery of end-to-end product lifecycle solutions, today announced that over the course of the next three to six months, it will wind down its manufacturing services for Research in Motion (RIM).”
“More details about this announcement will be provided as part of the company’s second-quarter results press release and conference call, which are scheduled for Friday, July 27.”
“In addition, Celestica is reaffirming its second quarter financial guidance that was provided on April 24. The company anticipates revenue to be in the range of $1.65 billion to $1.75 billion, and adjusted net earnings per share to be in the range of $0.20 to $0.26.”
Is it only a matter of time before RIM plunges to its final downfall? Or do you think that there is still a slim chance for recovery?
Source: Digg
Image: Jamie & Adam Tested
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