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Q4 11 RIM New CEO Faces Pivotal Year
RIM shipped 13 million smartphones worldwide in Q4 2011, falling -8% year-on-year, well below the industry average of +56%. A fall in shipments and profit margin inevitably led to calls for a change at the top from RIM investors. That was what they got at the start of 2012, as Mike Lazaridis and Jim Balsilie stepped aside to allow former COO Thorsten Heins to take over as the sole CEO. We expect the first half of 2012 to be tough for RIM, as the company looks to Blackberry 10 OS and the second half of the year for a potential recovery.