RIM has hired JP Morgan to “assist in reviewing RIM’s business and financial performance”:

To further enhance our commitment to successfully completing our transformation, after the release of our year-end financial results, we engaged J.P. Morgan Securities LLC and RBC Capital Markets to assist the Company and our Board of Directors in reviewing RIM’s business and financial performance. These advisors have been tasked to help us with the strategic review we referenced on our year-end financial results conference call and to evaluate the relative merits and feasibility of various financial strategies, including opportunities to leverage the BlackBerry platform through partnerships, licensing opportunities and strategic business model alternatives.

This is relatively straight forward. RIM is reporting that the company will continue to lose money through their transitional period for the next few quarters, and RIM has hired JP Morgan and RBC to advise them on the best (or what available) road to take. BGR reported that RIM was pushing for a sale of the entire company to Samsung earlier this year, but RIM wanted an insanely high number — around $10 billion — and Samsung has denied talks ever having place. RIM is currently trading at around $10 a share, making the company worth about half of what they originally wanted in a sale.

Bold emphasis ours, full press release follows.…

May 29, 2012

Research In Motion CEO Provides Business Update

WATERLOO, ONTARIO–(Marketwire – May 29, 2012) – Research In Motion Limited

(RIM) (NASDAQ:RIMM)(TSX:RIM), a world leader in the mobile communications market, today provided a business update from Thorsten Heins, the Company’s President and CEO.

“During the Q4 2012 and fiscal year-end financial results conference call on March 29, I said that I would provide our shareholders with candid and timely updates when possible on the progress and challenges RIM is experiencing. While we are no longer giving quantitative financial guidance, I wanted to provide a brief business update at this time, and will provide more details when our Q1 financial results for the quarter ended June 2, 2012 are released on June 28.

In terms of challenges, as I mentioned on the March financial results conference call, RIM is going through a significant transformation as we move towards the BlackBerry 10 launch, and our financial performance will continue to be challenging for the next few quarters. The on-going competitive environment is impacting our business in the form of lower volumes and highly competitive pricing dynamics in the marketplace, and we expect our Q1 results to reflect this, and likely result in an operating loss for the quarter. We are continuing to be aggressive as we compete for our customers’ business – both enterprise and consumer – around the world, and our teams are working hard to provide cost-competitive, feature-rich solutions to our global customer base. On the positive side, we expect to further increase our cash position in

Q1 from the approximately $2.1 billion we had at the end of fiscal 2012.

Despite the current challenges, we have made significant progress on a number of fronts in the past few months:

/T/

–  Our annual BlackBerry World conference and BlackBerry 10 Jam took place

earlier this month and both were tremendously successful. More than

5,000 developers, partners, carriers and enterprise customers from 115

different countries saw the first glimpses of our next-generation

BlackBerry 10 platform and their response was encouraging.

–  Our developer partners have been enthusiastic with the BlackBerry 10 Dev

Alpha prototype unit we distributed at BlackBerry World and many are

well underway in developing applications to be ready for the launch of

BlackBerry 10 in the latter part of calendar 2012.

–  The support and enthusiasm from our developer community is also

reflected in our app growth, where we now feature more than 80,000 apps,

which represents a 220% increase from one year ago, and more than 15,000

apps for PlayBook compared to less than 2,000 last year. We believe this

bodes well for our ecosystem as we get set to launch BlackBerry 10.

–  We are making steady progress with the innovation of our next-generation

BlackBerry 10 mobile computing platform, which is still on track to

launch in the latter part of calendar 2012.

–  Our global subscriber base continued to grow this quarter to

approximately 78 million, driven primarily by growth in international

markets, which is partially offset by high churn in the United States,

and our BBM user base has grown to approximately 59 million users

globally.

–  Our strong brand internationally was recently enhanced with the

successful launch of two new BlackBerry 7 phones in India and Latin

America.

/T/

We continue to make strategic changes to RIM’s senior management team with the hiring of two key new members to RIM’s executive leadership team.

Kristian Tear, our Chief Operating Officer, whose background also includes extensive experience in international sales in Europe, Asia and Latin America, and Frank Boulben, our Chief Marketing Officer, who will provide our team with deep experience in the mobile computing and communications industry. Both will assist me and the existing executive team as we continue to make the organizational changes necessary to position RIM for the future and prepare for the launch of our new BlackBerry 10 platform.

The CORE (cost optimization and resource efficiency) program we told you about previously is focused on delivering key operational savings through various initiatives. The financial objectives for the CORE program are targeted to drive $1 billion in savings by the end of fiscal 2013, based on our Q4 run rate. We are targeting better efficiency and use of resources in our sales and marketing initiatives to effectively leverage marketing windows and evaluate our country portfolio to determine where it makes sense for us to prioritize our efforts. We will also continue to review RIM’s organizational structure and clearly define accountabilities for all key businesses and business processes with a goal of eliminating fragmentation, duplication and inefficiencies. While there will be significant spending reductions and headcount reductions in some areas throughout the remainder of the fiscal year, we will continue to spend and hire in key areas such as those associated with the launch of BlackBerry 10, and those tied to the growth of our application developer community. We will share more details regarding our progress throughout the year as programs are implemented or changes are completed.

To further enhance our commitment to successfully completing our transformation, after the release of our year-end financial results, we engaged J.P. Morgan Securities LLC and RBC Capital Markets to assist the Company and our Board of Directors in reviewing RIM’s business and financial performance. These advisors have been tasked to help us with the strategic review we referenced on our year-end financial results conference call and to evaluate the relative merits and feasibility of various financial strategies, including opportunities to leverage the BlackBerry platform through partnerships, licensing opportunities and strategic business model alternatives.

Although we are facing challenges, we remain excited about BlackBerry 10 and believe that this platform coupled with the results of the strategic review will create long-term value for our stakeholders. We will provide another more detailed business update when we report our first quarter results in June.”

Q1 Results Conference Call Details

RIM will be reporting results for the first quarter of fiscal 2013 on June 28,

2012 after the close of the market. The Company will discuss today’s announcement and first quarter fiscal 2013 results on a conference call and live webcast beginning at 5 pm ET, June 28, 2012. The call can be accessed by dialing 1-800-814-4859 or at www.rim.com/investors/events/index.shtml. A replay of the conference call will also be available at approximately 7 pm by dialing

1-416-640-1917 and entering passcode 4501363#. A replay of the webcast will be available clicking the link above. The replay will be available until midnight ET July 12, 2012. The conference call will also appear on the RIM website live at 5 pm ET and will be archived at http://www.rim.com/investors/events/index.shtml.

About Research In Motion

Research In Motion (RIM), a global leader in wireless innovation, revolutionized the mobile industry with the introduction of the BlackBerry(R) solution in 1999. Today, BlackBerry products and services are used by millions of customers around the world to stay connected to the people and content that matter most throughout their day. Founded in 1984 and based in Waterloo, Ontario, RIM operates offices in North America, Europe, Asia Pacific and Latin America. RIM is listed on the NASDAQ Stock Market (NASDAQ:RIMM) and the Toronto Stock Exchange (TSX:RIM). For more information, visit www.rim.com or www.blackberry.com.

This news release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and Canadian securities laws, including statements regarding: RIM’s intention to provide shareholders with updates, when possible, relating to RIM’s progress and challenges; RIM’s transformation as it moves towards the BlackBerry 10 launch; RIM’s expectation that the business will continue to be challenging for the next few quarters; the effects of the intense competition in the wireless communications industry, and RIM’s plans and strategies to address competition; RIM’s current expectations regarding its financial performance in Q1 of fiscal 2013, and its anticipated cash position at the end of the quarter; RIM’s expectations and beliefs relating to the support of its developer partners and the development of its ecosystem in advance of the launch of BlackBerry 10; the anticipated timing of the launch of RIM’s BlackBerry 10 platform; the anticipated benefits of recent strategic changes to RIM’s senior management team and the hiring of outside advisors; RIM’s plans and expectations relating to the CORE program; and RIM’s expectation that it will be able to create long-term value for its stakeholders. The terms and phrases “would”, “will”, “transformation”, “move towards”, “continue”, “ongoing”, “expect”, “likely”, “well underway”, “to be ready”, “believe”, “progress”, “still on track”, “position RIM for the future”, “prepare for the launch”, “targeted”, “goal”, “accelerating”, and similar terms and phrases are intended to identify these forward-looking statements. Forward-looking statements are based on estimates and assumptions made by RIM in light of its experience and its perception of historical trends, current conditions and expected future developments, as well as other factors that RIM believes are appropriate in the circumstances, including but not limited to general economic conditions, product pricing levels and competitive intensity, supply constraints, the timing and success of new product introductions, RIM’s expectations regarding its business, strategy, opportunities and prospects, and RIM’s confidence in the cash flow generation of its business.

Many factors could cause RIM’s actual results, performance or achievements to differ materially from those expressed or implied by the forward-looking statements, including, without limitation: RIM’s ability to enhance current products and develop new products and services in a timely manner or at competitive prices, including risks related to further delays in new product introductions, such as the Company’s BlackBerry 10 smartphones; risks related to intense competition, including RIM’s ability to compete in the tablet market, strategic alliances or transactions within the wireless communications industry, and risks relating to RIM’s ability to maintain or grow its services revenues; RIM’s reliance on carrier partners and distributors; risks relating to network disruptions and other business interruptions, including costs, potential liabilities, lost revenue and reputational damage associated with service interruptions; RIM’s ability to manage inventory and asset risk; RIM’s ability to implement and realize the anticipated benefits of its Cost Optimization Program and CORE program; RIM’s ability to maintain or increase its cash balance; security risks and risks related to the collection, storage, transmission, use and disclosure of confidential and personal information; RIM’s ability to attract and retain key personnel; RIM’s ability to adapt to recent management changes and fill vacant key management positions; RIM’s reliance on suppliers of functional components for its products and risks relating to its supply chain; RIM’s ability to maintain and enhance the BlackBerry brand; risks related to RIM’s international operations; risks related to government regulations, including regulations relating to encryption technology; RIM’s reliance on third-party network infrastructure developers, software platform vendors and service platform vendors; RIM’s ability to expand and manage its BlackBerry App World applications catalogue; RIM’s reliance on third-party manufacturers; potential defects and vulnerabilities in RIM’s products; risks relating to litigation, including litigation claims arising from the Company’s past practice of providing forward-looking guidance; RIM’s ability to manage its past growth and its ongoing development of service and support operations; potential additional charges relating to the impairment of goodwill or other intangible assets recorded on RIM’s balance sheet; disruptions to RIM’s business as a result of shareholder activism; risks related to intellectual property; and difficulties in forecasting RIM’s financial results given the rapid technological changes, evolving industry standards, intense competition and short product life cycles that characterize the wireless communications industry.

These risk factors and others relating to RIM are discussed in greater detail in the “Risk Factors” section of RIM’s Annual Information Form, which is included in its Annual Report on Form 40-F and the “Cautionary Note Regarding Forward-Looking Statements” section of RIM’s MD&A (copies of which filings may be obtained at www.sedar.com or www.sec.gov).

These factors should be considered carefully, and readers should not place undue reliance on RIM’s forward-looking statements. RIM has no intention and undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

The Samsung Galaxy S III is finally real, and it’s just about everything we have reported it would be, though the specs have been dialed back a bit in some areas. The super-smartphone features an insanely fast 1.4GHz quad-core processor, a 4.7-inch HD display, an 8-megapixel camera with 1080p HD recording, 1GB of RAM and of course, 4G LTE. It’s all tightly packed into a slim case that is just 8.6 millimeters thick. Samsung is launching the Galaxy S III on May 29th in Europe and in the coming months, nearly 300 carrier partners will offer the phone. It will start to appear on local carriers in the United States some time this summer, and it will be the official phone of the Olympic Games in London this summer. Samsung’s full press release follows below along with a video.

Samsung Introduces the GALAXY S III, the Smartphone Designed for Humans and Inspired by Nature Effortlessly smart and intuitively simple, Samsung GALAXY S III reveals a new concept of smartphone 

London, UK—May 3, 2012—Samsung Electronics Co., Ltd, a global leader in digital media and digital convergence technologies, announced today the third generation GALAXY S, the GALAXY S III. Designed for humans and inspired by nature, the GALAXY S III is a smartphone that recognizes your voice, understands your intention, and lets you share a moment instantly and easily.

This sleek and innovative smartphone has the enhanced intelligence to make everyday life easier. With Samsung GALAXY S III, you can view the content like never before on the device’s 4.8 inch HD Super AMOLED display. An 8MP camera and a 1.9MP front camera offer users a variety of intelligent camera features and face recognition related options that ensure all moments are captured easily and instantly. Samsung GALAXY S III is powered by Android™ 4.0, Ice Cream Sandwich, with greatly enhanced usability and practicality to make life easier. Packed with intuitive technology, the GALAXY S III delivers a uniquely personalized mobile experience that refuses to be compromised.

“With the GALAXY S III, Samsung has maximized the consumer benefits by integrating superior hardware with enhanced smartphone usability,” said JK Shin, President and Head of IT & Mobile Communications Division at Samsung. “Designed to be both effortlessly smart and intuitively simple, the GALAXY S III has been created with our human needs and capabilities in mind. What makes me most proud is that it enables one of the most seamless, natural and human-centric mobile experiences, opening up a new horizon that allows you to live a life extraordinary.”

Introducing Natural Interaction

The GALAXY S III enhances the interaction experience between the device and user. Smart enough to detect your face, voice and motions, the GALAXY S III adapts to the individual user to provide a more convenient and natural experience. With the innovative ‘Smart stay’ feature, the GALAXY S III recognizes how you are using your phone – reading an e-book or browsing the web for instance – by having the front camera identify your eyes; the phone maintains a bright display for continued viewing pleasure.

The GALAXY S III features ‘S Voice,’ the advanced natural language user interface, to listen and respond to your words. In addition to allowing information search and basic device-user communication, S Voice presents powerful functions in regards to device control and commands. When your phone alarm goes off but you need a little extra rest, just tell the GALAXY S III “snooze.” You can also use S Voice to play your favorite songs, turn the volume up or down, send text messages and emails, organize your schedules, or automatically launch the camera and capture a photo.

In addition to recognizing your face and voice, the GALAXY S III understands your motions to offer maximized usability. If you are messaging someone but decide to call them instead, simply lift your phone to your ear and ‘Direct call’ will dial their number. With ‘Smart alert,’ the GALAXY S III will also save you from trouble by catching any missed messages or calls; your phone will vibrate to notify missed statuses when picked up after being idle. 

Easy and Instant Sharing 

The Samsung GALAXY S III is more than a personal device that can be enjoyed by one user – it wants you to share and experience smartphone benefits with family and friends, regardless of where you are. With the new ‘S Beam,’ the GALAXY S III expands upon Android™ Beam™, allowing a 1GB movie file to be shared within three minutes and a 10MB music file within two seconds by simply touching another GALAXY S III phone, even without a Wi-Fi or cellular signal. The ‘Buddy photo share’ function also allows photos to be easily and simultaneously shared with all your friends pictured in an image directly from the camera or the photo gallery.

With ‘AllShare Cast’, users can wirelessly connect their GALAXY S III to their television to immediately transfer smartphone content onto a larger display. ‘AllShare Play’ can be also used to instantly share any forms of files between GALAXY S III and your tablet, PC, and televisions regardless of the distance between the devices. Under AllShare Play is also the ‘Group Cast’ feature that allows you to share your screen among multiple friends on the same Wi-Fi network; you can make comments and draw changes at the same time with your co-workers, witnessing real-time sharing on your individual device. 

Human-centric Design with Uncompromised Performance

The GALAXY S III not only presents features with enhanced usability, but also provides an ergonomic and comfortable experience through its human-centric design. Its comfortable grip, gentle curves, and organic form deliver a rich human-centric feel and design. Inspired by nature, its design concept is the flow and movement of nature. The elements of wind, water and light are all evoked in the physical construct of the GALAXY S III. In its essence, the minimal organic design identity is reflected in the smooth and non-linear lines of the device. Available in Pebble Blue and Marble White at launch, Samsung will introduce a variety of additional color options.

With a 4.8” HD Super AMOLED display, the GALAXY S III offers a large and vivid viewing experience. Samsung Mobile’s heritage Super AMOLED display even enhances to HD and 16:9 wider viewing angles. To ensure faster content sharing and connectivity, the GALAXY S III offers Wi-Fi Channel Bonding which doubles the Wi-Fi bandwidth.

The GALAXY S III also sports a range of additional features that boost performance and the overall user experience in entirely new ways. It introduces ‘Pop up play,’ a feature that allows you to play a video anywhere on your screen while simultaneously running other tasks, eliminating the need to close and restart videos when checking new emails or surfing the Web. Its 8MP camera features a zero-lag shutter speed that lets you capture moving objects easily without delay – the image you see is the picture you take. With the ‘Burst shot’ function that instantly captures twenty continuous shots, and the ‘Best photo’ feature that selects the best of eight photographs for you, the GALAXY S III ensures users a more enhanced and memorable camera experience. HD video can be recorded even with the 1.9MP front-facing camera, which you can use to capture a video of yourself. Improved backside illumination further helps to eliminate blur in photos that result from shaking, even under low lights.

Mobile payment is also accessible with the device through advanced Near Field Communication (NFC) technology. The gaming experience is enhanced through ‘Game Hub,’ providing access to numerous social games, while Video Hub brings users high quality TV and movies. Furthermore, Samsung Music Hub will offer a personal music streaming service. Game Hub, Video Hub and Music Hub will be introduced in select countries initially and soon rolled out to global markets.

The Samsung GALAXY S III will be available from the end of May in Europe before rolling out to other markets globally.

Apple has just announced that the company’s Worldwide Developer Conference will take place in San Francisco from June 11th to June 15th. Apple is providing over 100 sessions on iOS and OS X, in addition to a student scholarship program. Press release is after the break.

UPDATE: Tickets for WWDC 2012 have sold out in less than two hours.

CUPERTINO, Calif., Apr 25, 2012 (BUSINESS WIRE) — Apple(R) today announced that it will hold its annual Worldwide Developers Conference (WWDC) June 11 through June 15 at San Francisco’s Moscone West. At this year’s five-day conference, developers will learn about the future of iOS and OS X(R), allowing them to build incredible new apps. WWDC will also feature more than 100 technical sessions presented by Apple engineers as well as the popular Apple Design Awards, a showcase of the most outstanding apps from the past year.

“We have a great WWDC planned this year and can’t wait to share the latest news about iOS and OS X Mountain Lion with developers,” said Philip Schiller, Apple’s senior vice president of Worldwide Marketing. “The iOS platform has created an entirely new industry with fantastic opportunities for developers across the country and around the world.”

Developers will be able to explore the latest innovations, features and capabilities of iOS and OS X Mountain Lion and learn how to greatly enhance the functionality, performance, quality and design of their apps. Developers can even bring their code to the labs and work with Apple engineers, applying development techniques and best-practices to enhance their apps.

Activities at Apple’s WWDC 2012 include:

– more than 100 technical sessions presented by Apple engineers on a wide range of technology-specific topics for developing, deploying and integrating the latest iOS and OS X technologies;

– 100 hands-on labs staffed by more than 1,000 Apple engineers providing developers with code-level assistance, insight into optimal development techniques and guidance on how they can make the most of iOS and OS X technologies in their apps;

– the opportunity to connect with thousands of fellow iOS and OS X developers from around the world–last year more than 60 countries were represented;

– engaging and inspirational lunchtime sessions with leading minds and influencers from the worlds of technology, science and entertainment; and

– Apple Design Awards which recognize iPhone(R), iPad(R) and Mac(R) apps that demonstrate technical excellence, innovation and outstanding design.

Please go to the Apple Worldwide Developers Conference 2012 website (developer.apple.com/wwdc) to purchase tickets, as well as for updates and more information.

Developers who are unable to attend this year’s conference can access and watch all technical sessions from the Apple Developer website (developer.apple.com/videos) as soon as they are posted for free.

After a rough month that saw Apple’s stock tumble nearly $90 from a high of $644 earlier this month to as low as $555.18 on Tuesday, Apple reported its earnings for the second fiscal quarter on Tuesday after the market closed. Following a last-minute round of panic that swept Wall Street, Apple posted a net profit of $11.6 billion, or$12.30 per share — up 94% year-over-year — on revenue of $39.2 billion, crushing the Street’s consensus. Analysts were expecting earnings of $10.06 per share on $36.81 billion in sales. Read on for more.

IPhone channel sales were the focus of the Street’s worries earlier on Tuesday, as a number of analysts lowered expectations following AT&T’s first-quarter earnings report. Wall Street was looking for Apple to move 30.5 million smartphones during the second fiscal quarter and the company beat expectations, selling 35.1 million iPhones into channels last quarter, up 88% from 18.65 million units in the second quarter a year earlier.

Outside of the iPhone, which has quickly become Apple’s biggest money-maker by a substantial margin, analysts were expecting Apple to sell between 12 million and 13 million iPads along with 4.4 million Macs. Actual iPad sales came in at 11.8 million units, and Apple sold 4 million Mac computers in the second fiscal quarter. Apple sold 4.69 million iPads and 3.6 million Macs in the same quarter in 2011.

Shares of Apple stock are up more than 6% in after-hours trading, and the company’s full press release follows below.

Apple Reports Second Quarter Results

Record March Quarter Sales of iPhones, iPads and Macs

Net Profit Increases 94% Year-over-Year

CUPERTINO, Calif.–(BUSINESS WIRE)–Apple® today announced financial results for its fiscal 2012 second quarter ended March 31, 2012. The Company posted quarterly revenue of $39.2 billion and quarterly net profit of $11.6 billion, or $12.30 per diluted share. These results compare to revenue of $24.7 billion and net profit of $6.0 billion, or $6.40 per diluted share, in the year-ago quarter. Gross margin was 47.4 percent compared to 41.4 percent in the year-ago quarter. International sales accounted for 64 percent of the quarter’s revenue.

“Looking ahead to the third fiscal quarter, we expect revenue of about $34 billion and diluted earnings per share of about $8.68.”

The Company sold 35.1 million iPhones in the quarter, representing 88 percent unit growth over the year-ago quarter. Apple sold 11.8 million iPads during the quarter, a 151 percent unit increase over the year-ago quarter. The Company sold 4 million Macs during the quarter, a 7 percent unit increase over the year-ago quarter. Apple sold 7.7 million iPods, a 15 percent unit decline from the year-ago quarter.

“We’re thrilled with sales of over 35 million iPhones and almost 12 million iPads in the March quarter,” said Tim Cook, Apple’s CEO. “The new iPad is off to a great start, and across the year you’re going to see a lot more of the kind of innovation that only Apple can deliver.”

“Our record March quarter results drove $14 billion in cash flow from operations,” said Peter Oppenheimer, Apple’s CFO. “Looking ahead to the third fiscal quarter, we expect revenue of about $34 billion and diluted earnings per share of about $8.68.”

Apple will provide live streaming of its Q2 2012 financial results conference call beginning at 2:00 p.m. PDT on April 24, 2012 at www.apple.com/quicktime/qtv/earningsq212. This webcast will also be available for replay for approximately two weeks thereafter.

This press release contains forward-looking statements including without limitation those about the Company’s estimated revenue and diluted earnings per share. These statements involve risks and uncertainties, and actual results may differ. Risks and uncertainties include without limitation the effect of competitive and economic factors, and the Company’s reaction to those factors, on consumer and business buying decisions with respect to the Company’s products; continued competitive pressures in the marketplace; the ability of the Company to deliver to the marketplace and stimulate customer demand for new programs, products, and technological innovations on a timely basis; the effect that product introductions and transitions, changes in product pricing or mix, and/or increases in component costs could have on the Company’s gross margin; the inventory risk associated with the Company’s need to order or commit to order product components in advance of customer orders; the continued availability on acceptable terms, or at all, of certain components and services essential to the Company’s business currently obtained by the Company from sole or limited sources; the effect that the Company’s dependency on manufacturing and logistics services provided by third parties may have on the quality, quantity or cost of products manufactured or services rendered; risks associated with the Company’s international operations; the Company’s reliance on third-party intellectual property and digital content; the potential impact of a finding that the Company has infringed on the intellectual property rights of others; the Company’s dependency on the performance of distributors, carriers and other resellers of the Company’s products; the effect that product and service quality problems could have on the Company’s sales and operating profits; the continued service and availability of key executives and employees; war, terrorism, public health issues, natural disasters, and other circumstances that could disrupt supply, delivery, or demand of products; and unfavorable results of other legal proceedings. More information on potential factors that could affect the Company’s financial results is included from time to time in the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of the Company’s public reports filed with the SEC, including the Company’s Form 10-K for the fiscal year ended September 24, 2011, its Form 10-Q for the fiscal quarter ended December 31, 2011, and its Form 10-Q for the fiscal quarter ended March 31, 2012 to be filed with the SEC. The Company assumes no obligation to update any forward-looking statements or information, which speak as of their respective dates.

Apple designs Macs, the best personal computers in the world, along with OS X, iLife, iWork and professional software. Apple leads the digital music revolution with its iPods and iTunes online store. Apple has reinvented the mobile phone with its revolutionary iPhone and App Store, and is defining the future of mobile media and computing devices with iPad.

NOTE TO EDITORS: For additional information visit Apple’s PR website (www.apple.com/pr), or call Apple’s Media Helpline at (408) 974-2042.

© 2012 Apple Inc. All rights reserved. Apple, the Apple logo, Mac, Mac OS and Macintosh are trademarks of Apple. Other company and product names may be trademarks of their respective owners.

Apple Inc.UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS(In millions, except number of shares which are reflected in thousands and per share amounts)
		Three Months Ended						Six Months Ended
		March 31,2012			March 26,2011			March 31,2012			March 26,2011
Net sales		$	39,186		$	24,667		$	85,519		$	51,408
Cost of sales (1)			20,622			14,449			46,252			30,892
Gross margin			18,564			10,218			39,267			20,516
Operating expenses:
Research and development (1)			841			581			1,599			1,156
Selling, general and administrative (1)			2,339			1,763			4,944			3,659
Total operating expenses			3,180			2,344			6,543			4,815
Operating income			15,384			7,874			32,724			15,701
Other income and expense			148			26			285			162
Income before provision for income taxes			15,532			7,900			33,009			15,863
Provision for income taxes			3,910			1,913			8,323			3,872
Net income		$	11,622		$	5,987		$	24,686		$	11,991
Earnings per common share:
Basic		$	12.45		$	6.49		$	26.48		$	13.02
Diluted		$	12.30		$	6.40		$	26.17		$	12.83
Shares used in computing earnings per share:
Basic			933,582			923,196			932,265			921,245
Diluted			944,893			935,944			943,185			934,549
(1) Includes stock-based compensation expense as follows:
Cost of sales		$	63		$	51		$	126		$	103
Research and development		$	168		$	104		$	328		$	217
Selling, general and administrative		$	193		$	132		$	390		$	266

Apple Inc.UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS(In millions, except number of shares which are reflected in thousands)
		March 31, 2012			September 24, 2011
ASSETS:
Current assets:
Cash and cash equivalents		$	10,121		$	9,815
Short-term marketable securities			18,417			16,137
Accounts receivable, less allowances of $83 and $53, respectively			7,042			5,369
Inventories			1,102			776
Deferred tax assets			2,253			2,014
Vendor non-trade receivables			6,727			6,348
Other current assets			5,050			4,529
Total current assets			50,712			44,988
Long-term marketable securities			81,638			55,618
Property, plant and equipment, net			8,847			7,777
Goodwill			1,141			896
Acquired intangible assets, net			3,604			3,536
Other assets			4,992			3,556
Total assets		$	150,934		$	116,371
LIABILITIES AND SHAREHOLDERS’ EQUITY:
Current liabilities:
Accounts payable		$	17,011		$	14,632
Accrued expenses			9,778			9,247
Deferred revenue			5,247			4,091
Total current liabilities			32,036			27,970
Deferred revenue – non-current			2,446			1,686
Other non-current liabilities			13,954			10,100
Total liabilities			48,436			39,756
Commitments and contingencies
Shareholders’ equity:
Common stock, no par value; 1,800,000 shares authorized; 934,982 and 929,277 shares issued and outstanding, respectively			14,850			13,331
Retained earnings			87,124			62,841
Accumulated other comprehensive income			524			443
Total shareholders’ equity			102,498			76,615
Total liabilities and shareholders’ equity		$	150,934		$	116,371

Apple Inc.UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS(In millions)
		Six Months Ended
		March 31, 2012				March 26, 2011
Cash and cash equivalents, beginning of the period		$	9,815			$	11,261
Operating activities:
Net income			24,686				11,991
Adjustments to reconcile net income to cash generated by operating activities:
Depreciation, amortization and accretion			1,461				790
Share-based compensation expense			844				586
Deferred income tax expense			2,915				1,563
Changes in operating assets and liabilities:
Accounts receivable, net			(1,663	)			(288	)
Inventories			(326	)			121
Vendor non-trade receivables			(379	)			(883	)
Other current and non-current assets			(1,510	)			(1,886	)
Accounts payable			2,809				1,626
Deferred revenue			1,916				698
Other current and non-current liabilities			778				1,674
Cash generated by operating activities			31,531				15,992
Investing activities:
Purchases of marketable securities			(85,022	)			(42,260	)
Proceeds from maturities of marketable securities			7,702				10,211
Proceeds from sales of marketable securities			49,052				21,705
Payments made in connection with business acquisitions, net of cash acquired			(350	)			0
Payments for acquisition of property, plant and equipment			(2,778	)			(1,838	)
Payments for acquisition of intangible assets			(160	)			(81	)
Other			(48	)			12
Cash used in investing activities			(31,604	)			(12,251	)
Financing activities:
Proceeds from issuance of common stock			377				494
Excess tax benefits from equity awards			636				740
Taxes paid related to net share settlement of equity awards			(634	)			(258	)
Cash generated by financing activities			379				976
Increase in cash and cash equivalents			306				4,717
Cash and cash equivalents, end of the period		$	10,121			$	15,978
Supplemental cash flow disclosure:
Cash paid for income taxes, net		$	4,835			$	1,913

Apple Inc.
Q2 2012 Unaudited Summary Data
(Units in thousands, Revenue in millions)
			Q1 2012					Q2 2011					Q2 2012
																		Sequential Change						Year/Year Change
Operating Segments			Mac Units		Revenue			Mac Units		Revenue			Mac Units		Revenue			Mac Units			Revenue			Mac Units			Revenue
	Americas		1,612		$	17,714		1,217		$	9,323		1,214		$	13,182		- 25	%		- 26	%		0	%		41	%
	Europe		1,482			11,256		995			6,027		1,048			8,807		- 29	%		- 22	%		5	%		46	%
	Japan		184			3,550		155			1,383		158			2,645		- 14	%		- 25	%		2	%		91	%
	Asia Pacific		814			7,697		596			4,743		771			10,153		- 5	%		32	%		29	%		114	%
	Retail		1,106			6,116		797			3,191		826			4,399		- 25	%		- 28	%		4	%		38	%
Total Operating Segments			5,198		$	46,333		3,760		$	24,667		4,017		$	39,186		- 23	%		- 15	%		7	%		59	%
																		Sequential Change						Year/Year Change
Product Summary			Units		Revenue			Units		Revenue			Units		Revenue			Units			Revenue			Units			Revenue
	Mac Desktops (1)(9)		1,479		$	1,936		1,009		$	1,441		1,199		$	1,563		- 19	%		- 19	%		19	%		8	%
	Mac Portables (2)(9)		3,719			4,662		2,751			3,535		2,818			3,510		- 24	%		- 25	%		2	%		- 1	%
Subtotal Mac			5,198			6,598		3,760			4,976		4,017			5,073		- 23	%		- 23	%		7	%		2	%
	iPod (3)(9)		15,397			2,528		9,017			1,600		7,673			1,207		- 50	%		- 52	%		- 15	%		- 25	%
	Other Music Related Products and Services (4)					2,027					1,634					2,151					6	%					32	%
	iPhone and Related Products and Services (5)(9)		37,044			24,417		18,647			12,298		35,064			22,690		- 5	%		- 7	%		88	%		85	%
	iPad and Related Products and Services (6)(9)		15,434			9,153		4,694			2,836		11,798			6,590		- 24	%		- 28	%		151	%		132	%
	Peripherals and Other Hardware (7)					766					580					643					- 16	%					11	%
	Software, Service and Other Sales (8)					844					743					832					- 1	%					12	%
Total Apple					$	46,333				$	24,667				$	39,186					- 15	%					59	%
(1)	Includes revenue from iMac, Mac mini, and Mac Pro sales.
(2)	Includes revenue from MacBook, MacBook Air, and MacBook Pro sales.
(3)	Includes revenue from iPod sales.
(4)	Includes revenue from sales from the iTunes Store, App Store, and iBookstore in addition to sales of iPod services and Apple-branded and third-party iPod accessories.
(5)	Includes revenue from sales of iPhone, iPhone services, and Apple-branded and third-party iPhone accessories.
(6)	Includes revenue from sales of iPad, iPad services, and Apple-branded and third-party iPad accessories.
(7)	Includes revenue from sales of displays, networking product, and other hardware.
(8)	Includes revenue from sales of Apple-branded and third-party Mac software, and services.
(9)	Includes amortization of related revenue deferred for non-software services and embedded software upgrade rights.

AT&T announced on Wednesday that the HTC One X smartphone will launch on May 6th for $199.99 on contract. Pre-orders will begin on April 22nd, in line with an earlier report from BGR. The flagship smartphone features a dual-core 1.5GHz Qualcomm Snapdragon processor, a 4.6-inch 720p HD display, an 8-megapixel rear camera, a 1.3-megapixel front-facing camera, 16GB of internal storage, 1GB of RAM and Sense 4 on top of Android 4.0 Ice Cream Sandwich. AT&T’s full press release follows below along with a video.

HTC One X Available Exclusively from AT&T Beginning May 6 for $199.99

4G LTE Entertainment Superphone features Amazing Camera and Beats Audio Experience, Runs on Android 4.0 and HTC Sense 4

Dallas, Texas, Bellevue, Washington, April 18, 2012

Key Facts

• The first new smartphone from AT&T to run the latest version of the Android operating system (4.0), the HTC One X, will be available from AT&T beginning May 6 for $199.99.
• HTC One X is AT&T’s first smartphone with Beats by Dr. Dre™ Audio built-in to the hardware and software.
• HTC One X is the first smartphone from AT&T to offer HTC Sense™ 4 to deliver an amazing camera with improvements to the lens, sensor and software, an authentic sound experience with Beats by Dr. Dre Audio, and long-lasting battery performance to accommodate heavy mobile use.
• Pre-orders for HTC One X will begin April 22.  Customers can visit any company-owned retail store or http://www.att.com/onex for more information.

Sound at its Finest

HTC One X is the first device from AT&T with HTC’s authentic sound experience featuring Beats by Dr. Dre Audio integration, offering rich, full sounds with professional-grade sound engineering to play the music how the artist intended.  Beats Audio provides a distortion-free sound at higher volume and rich bass at all levels for whether you are watching movies, playing games or streaming music.  HTC One X is custom tuned for the best audio performance when used with Beats by Dr. Dre accessories,** including the Beatbox (AT&T exclusive), Wireless HD Stereo Bluetooth Headphones, Beats™ Solo™ HD Headphones, and UR Beats™ In-ear Headphones.

With built-in software on the HTC One X, customers can connect it to a computer and HTC’s Sync Manager software automatically installs to your computer and once connected, makes it easy to move music and playlists to your phone from your music library.

Entertainment Everywhere

Consumers’ ability to incorporate their smartphones into every aspect of their lives continues with the HTC One X.  Watching TV shows or movies will be even more enjoyable on its 4.7-inch 720p HD screen with sharp images that appear detailed and visible from every angle – even angled up to 80 degrees.  HTC Watch gives you access to thousands of Hollywood blockbusters with minimal wait time and offers companion content to find out more about the film.  You can begin watching the movie moments after it starts downloading and wirelessly share the content on any HD TV using HTC’s wireless HDMI Media Link HD adapter.**

The laminated cover glass and touch layer eliminates light reflection for superior sharpness and clarity, and is protected with Corning® Gorilla® Glass.  HTC One X is made with a beautifully crafted polycarbonate unibody design that showcases its clean lines and seamless construction.

Superior Camera

For many consumers, their smartphone doubles as their camera.  HTC One X’s 8MP HD camera features ImageSense and rivals traditional digital cameras with improvements to every part of the camera including the lens, sensor and software, while integrating HTC’s new ImageChip to make quality picture taking a breeze.

Fumbling with the menu and settings on your smartphone is frustrating when the perfect shot is right in front of you. In less than one second, you can launch the camera from the lock screen and within another second the camera’s autofocus zeros in on your subject and zero shutter lag lets you take continuous shots simply by holding the shutter button.  HTC One X takes beautiful photos under low-light, no-light, and back-light conditions. The Video Pic feature allows the capture of still pictures while recording video in HD as well as the ability to capture a still image from previously recorded video.

The HTC One X’s next-generation 1.5 GHz Qualcomm Snapdragon™ S4 dual-core processor allows customers to run heavy duty tasks such as creating and editing homemade videos smoothly without any lag, while the 1,800 mAh embedded battery, and software enhancements that improve battery performance by 50-100 percent over previous HTC phones, offers hours of uninterrupted entertainment time.

HTC Sense 4

HTC One X will be one of the first devices in the U.S. with the simple and intuitive HTC Sense 4 user experience.  It helps make the Beats Audio experience possible while listening to any audio component and features camera enhancements including a quick launch feature for the camera on the HTC One X – dramatically cutting down the time needed to move from the lock screen to snapping a picture.

Best Buy on Tuesday announced that its director and chief executive officer Brian Dunn has resigned from the company effective immediately. Director G. Mike Mikan has been named interim CEO as the company searches for a new chief executive. “I have enjoyed every one of my 28 years with this company, and I leave it today in position for a strong future. I am proud of my fellow employees and I wish them the best,” Dunn said in a statement. Best Buy recently announced plans to shutter 50 retail stores as part of an effort to cut costs, and the company missed Wall Street’s revenue consensus when it reported its fourth-quarter earnings last month. Best Buy’s stock is trading up 2.75% on the news. The company’s full press release follows below.

UPDATE: StarTribune reports that an investigation into personal misconduct led to Dunn’s resignation.

Best Buy Announces Leadership Transition
Interim CEO Named to Lead Company

INNEAPOLIS–(BUSINESS WIRE)–The board of directors of Best Buy Co., Inc. (NYSE:BBY) today announced that Brian Dunn has resigned as chief executive officer and director. There were no disagreements between Mr. Dunn and the company on any matter relating to operations, financial controls, policies or procedures. There was mutual agreement that it was time for new leadership to address the challenges that face the company. Director G. Mike Mikan has been named interim CEO to lead the company while a search for a new CEO is underway. Richard Schulze, the founder of Best Buy, continues to serve as chairman.

“We thank Brian Dunn for his many years of service to the company and wish him well in his next endeavors”

“I have enjoyed every one of my 28 years with this company, and I leave it today in position for a strong future. I am proud of my fellow employees and I wish them the best,” said Dunn.

“We thank Brian Dunn for his many years of service to the company and wish him well in his next endeavors,” said Schulze. “As we move forward, we are very pleased to have a strong leader with Mike Mikan’s credentials as interim CEO.”

“The Best Buy team and I will be extremely focused on successfully managing this period of transition. I want to assure our employees, customers and other key stakeholders that we will work together to achieve our company’s growth and profitability goals,” said Mikan.

Mikan, who will remain on the board while serving as interim CEO, has been a Best Buy director since April 2008. He formerly served as executive vice president and chief financial officer of UnitedHealth Group Incorporated and chief executive officer of Optum, a health care services company and affiliate of UnitedHealth. Mikan has strong financial and operational expertise, as well as public company leadership experience.

A search committee of the board of directors has been created consisting of the founder and members of the nominating, corporate governance and policy committee. The committee will oversee the process for the identification and selection of the next CEO.

Facebook is acquiring Instagram for $1 billion, and Instagram’s team will be joining Facebook. Mark Zuckerberg announced the deal in a Facebook post:

I’m excited to share the news that we’ve agreed to acquire Instagram and that their talented team will be joining Facebook.

For years, we’ve focused on building the best experience for sharing photos with your friends and family. Now, we’ll be able to work even more closely with the Instagram team to also offer the best experiences for sharing beautiful mobile photos with people based on your interests.

We believe these are different experiences that complement each other. But in order to do this well, we need to be mindful about keeping and building on Instagram’s strengths and features rather than just trying to integrate everything into Facebook.

That’s why we’re committed to building and growing Instagram independently. Millions of people around the world love the Instagram app and the brand associated with it, and our goal is to help spread this app and brand to even more people.

We think the fact that Instagram is connected to other services beyond Facebook is an important part of the experience. We plan on keeping features like the ability to post to other social networks, the ability to not share your Instagrams on Facebook if you want, and the ability to have followers and follow people separately from your friends on Facebook.

These and many other features are important parts of the Instagram experience and we understand that. We will try to learn from Instagram’s experience to build similar features into our other products. At the same time, we will try to help Instagram continue to grow by using Facebook’s strong engineering team and infrastructure.

This is an important milestone for Facebook because it’s the first time we’ve ever acquired a product and company with so many users. We don’t plan on doing many more of these, if any at all. But providing the best photo sharing experience is one reason why so many people love Facebook and we knew it would be worth bringing these two companies together.

We’re looking forward to working with the Instagram team and to all of the great new experiences we’re going to be able to build together.

Read

Sprint and HTC on Wednesday unveiled the HTC EVO 4G LTE during a joint press conference in New York City. As a customized version of the HTC One X, Sprint’s new flagship smartphone features a 4.7-inch Super LCD display with 720p HD resolution, a dual-core 1.5GHz Qualcomm Snapdragon processor, an 8-megapixel camera powered by a dedicated ImageChip, Android 4.0 Ice Cream Sandwich, Sense 4.0, 16GB of internal storage plus microSDHC support, 1GB of RAM, NFC, 4G LTE and a 2,000 mAh battery. The smartphone will also be Sprint’s first device to feature HD voice, an enhancement that will be enabled by Sprint’s Network Vision efforts. The service is not yet enabled, but we were told that the difference between standard voice and HD voice is akin to the difference between a standard-resolution television and an HDTV. HTC EVO 4G LTE pre-sales begin May 7th for $199.99 on contract, and the device will launch some time in the second quarter. Sprint and HTC’s joint press release follows below, and be sure to check out BGR’s hands-on preview of the HTC EVO 4G LTE.

HTC EVO 4G LTE, Exclusively from Sprint, First HD Voice-capable Smartphone Available in the U.S.;
Offers Best-in-Class Features, including Beats Audio,
Amazing Camera and HD Display

Next-generation EVO offers the ability to enjoy industry-leading features
without fear of overage charges or throttling with unlimited data plans
for new and existing Sprint customers

Available in Q2 for $199.99; Register for updates at www.sprint.com/evo4glte

NEW YORK – April 4, 2012 – Sprint (NYSE: S), the only national wireless carrier offering truly unlimited data for all phones while on the Sprint network¹, and HTC, a global designer of smartphones, announce the next evolution of the  award-winning HTC EVO™ family: HTC EVO™ 4G LTE. HTC EVO 4G LTE focuses on exceptional improvements in camera technology, audio and voice quality on both the network and device.

HTC EVO 4G LTE will be available in the second quarter for $199.99 (excludes taxes and surcharges). The availability date will be announced later. Customers can sign up for updates today at www.sprint.com/evo4glte, and pre-order will begin Monday, May 7, at www.sprint.com.

HTC EVO 4G LTE is built on Android™ 4.0, Ice Cream Sandwich, integrated with HTC Sense™ 4. HTC EVO 4G LTE boasts brilliant features, including a vibrant 4.7-inch HD display, HD voice capabilities, 1.5GHz dual-core processor, large 2000mAh embedded battery and dual-cameras (8-megapixel rear-facing and 1.3-megapixel front-facing) with instant capture capability. HTC EVO 4G LTE brings back the fan-favorite kickstand built into the smartphone’s refined, slim design.

With the launch of HTC EVO 4G LTE, Sprint becomes the first U.S. carrier to announce plans for a nationwide HD Voice network beginning in late 2012 as part of Sprint’s Network Vision program.

HD Voice is the next-generation evolution of voice quality and the future of voice communications for mobile phones. The service will provide fuller, more natural-sounding and less fatiguing voice quality and should reduce troublesome background noises often found in a cafe or on the street.² Users should expect to identify voices and hear every word better than ever. Sprint’s commitment to HD Voice starts with HTC EVO 4G LTE, Sprint’s first HD Voice capable device.

“Sprint has a long history of leading the wireless industry in innovation, and the debut of HTC EVO 4G LTE marks another chapter in that innovation story,” said Sprint CEO Dan Hesse. “Once again, we are partnering with HTC to deliver the benchmark Android device for the year with the next generation of our award-winning EVO brand. We know our customers will appreciate the focus on audio and voice quality with EVO 4G LTE, including the addition of Beats Audio and HD Voice capability.”

HTC EVO 4G LTE is Sprint’s first device with HTC’s Authentic Sound experience integrating Beats Audio™. The technology enables customers to hear music the way the artist intended with unique audio tuning that delivers thundering bass, soaring midrange and crisp highs.

HTC EVO 4G LTE incorporates Beats Audio across the entire phone experience, including playing music stored on the device, streaming from a favorite service, watching a movie or YouTube™ video, or playing the latest hot game. HTC Sync Manager software also lets users easily get their music on the device from their PC, and it works with current programs, including iTunes^®.

“The partnership between HTC and Sprint has resulted in one of the most popular and successful smartphone brands of all time with over 7 million EVO devices sold to date,” said Jason Mackenzie, president, HTC Corporation. “With HTC EVO 4G LTE, we’ve created a desirable successor that is sure to excite the millions of current EVO customers and beyond with HTC’s distinct design, amazing camera and authentic sound.”

ADVANCING SMARTPHONE PHOTOGRAPHY

HTC EVO 4G LTE makes mobile photography and video easy and intuitive.

• The on-screen photo and video buttons are right next to each other so users don’t have to switch modes. This allows the user to take video and still photos concurrently.
• It makes the whole idea of “video mode” or “photo mode” irrelevant. While shooting a video, the user can just tap the shutter button and it captures a still image of that exact moment. Still images can also be captured during video playback.
• HTC EVO 4G LTE’s camera has a super-fast start-up and auto-focus time. With the fast auto-focus, users can easily stay with a moving object or person, taking numerous pictures just by holding the shutter button.

In addition, HTC ImageSense™ technology combines hardware and software advancements to the camera lens, sensor and software, including integration of a new custom HTC ImageChip, to take great photos even in adverse conditions. The best-in-class f/2.0 camera lens lets in 44 percent more light than the lenses used on most camera phones. The Smart Flash also adjusts the flash strength based on how far away the object is, so users won’t get photos where everything looks washed out.

REFINED STYLE AND DESIGN

Crafted from aluminum spaceframe in an anodized black finish, HTC EVO 4G LTE delivers cutting-edge function and style in a thin and distinctive design. The smartphone’s 4.7-inch display and 80-degree viewing angle makes it easier to share pictures and video with others. The multiposition kickstand allows users to watch videos hands-free.

HTC EVO 4G LTE customers can enjoy an unlimited data experience with Sprint Everything Data plans. Sprint’s Everything Data plan with Any Mobile, Anytime^SM includes unlimited Web, texting and calling to and from any mobile in America while on the Sprint Network, starting at just $79.99 per month for smartphones³ – a savings of $40 per month vs. Verizon’s comparable plan with unlimited talk, text and 2GB Web, or $10 per month savings vs. Verizon’s 450-minute plan with unlimited text and 2GB Web.

Sprint recently announced Atlanta, Baltimore, Dallas, Houston, Kansas City and San Antonio are expected to have 4G LTE and enhanced 3G service in mid-year 2012. Sprint 4G LTE will enable faster speeds for data applications, and the enhanced 3G service promises better signal strength, faster data speeds, expanded coverage and better in-building performance. The launch of these large metropolitan areas demonstrates the continued commitment by Sprint to invest in its network through Network Vision. Sprint customers in these areas will soon enjoy ultra-fast data speeds and improved 3G voice quality. Whether a Sprint customer is using a smartphone to share a video, checking the Web via a mobile hotspot, Sprint 4G LTE will make it easier. And, when someone makes an important voice call, they can expect to find a clearer connection and a stronger signal in more areas. For the most up-to-date details on Sprint’s 4G LTE rollout, please visit www.sprint.com/4GLTE.

Oakley THUMP sunglasses not doing it for you? A rumored Google project based around the concept of a pair of glasses that can deliver real-time information on a heads-up display has gone public. In a Google+ post, the company is asking for feedback on their project to help shape what the end result will actually look like.

We think technology should work for you—to be there when you need it and get out of your way when you don’t.

A group of us from Google[x] started Project Glass to build this kind of technology, one that helps you explore and share your world, putting you back in the moment. We’re sharing this information now because we want to start a conversation and learn from your valuable input. So we took a few design photos to show what this technology could look like and created a video to demonstrate what it might enable you to do.

Please follow along as we share some of our ideas and stories. We’d love to hear yours, too. What would you like to see from Project Glass?

Hit the break for a video showcasing the new technology.

[Via 9to5Google]

Read

With expectations at an all-time low and analysts lowering estimates left and right, Research In Motion on Thursday reported its results for the fourth fiscal quarter of 2012. RIM posted a surprising beat in the third fiscal quarter when it managed earnings of $1.27 per share on $5.2 billion in sales. At the same time, however, the Waterloo, Ontario-based BlackBerry maker issued worse than expected fourth-quarter EPS guidance of between $0.80 and $0.95, and it said revenue would likely fall between $4.6 billion and $4.98 billion. RIM has now confirmed adjusted net income of $0.80 per share, on revenue of $4.2 billion, down sequentially from $5.2 billion despite the launch of multiple new BlackBerry 7 smartphone models. Read on for more.

RIM said it shipped 11.1 million BlackBerry smartphones and more than 500,000 PlayBook tablets last quarter. Smartphone shipments came in at the low end of its forecast of between 11 million and 12 million units. Wall Street was expecting earnings of $0.81 per share and $4.54 billion in revenue. In the fourth fiscal quarter of 2011, RIM posted a profit of $710 million, or $1.27 per share, on $4.08 billion in sales.

The company confirmed that RIM co-founder Jim Balsillie will step down as director and leave the company.

RIM also confirmed during its earnings call that multiple top executives, chief technology officer David Yach and chief operating officer Jim Rowan, will leave the company.

The struggling smartphone vendor said it is facing significant challenges, and it is currently reviewing strategic opportunities and potential partnerships. The company also said that it will dial back efforts in multiple consumer markets and refocus its efforts on the enterprise market.

RIM confirmed that its first BlackBerry 10 smartphone is on track to launch in late 2012.

“The next few quarters will continue to be challenging for our business,” RIM CEO Thorsten Heins said during the company’s earnings call. Heins confirmed that RIM would consider licensing its platform and services to partners, and it would also consider an outright sale if its current efforts to not improve the company’s sliding position.

RIM’s full press release follows below.

Research In Motion Reports Year-End and Fourth Quarter Results for Fiscal 2012 

WATERLOO, ONTARIO–(Marketwire – March 29, 2012) - Research In Motion Limited (RIM) (NASDAQ:RIMM)(TSX:RIM), a world leader in the mobile communications market, today reported fourth quarter results for the three months and fiscal year ended March 3, 2012 (all figures in U.S. dollars and U.S. GAAP, except where otherwise indicated).

Highlights:

• $2.1 billion in cash, cash equivalents, short-term and long-term investments at the end of the quarter, which increased by approximately $610 million in the quarter
• Cash flow from operations of approximately $1.1 billion, up from approximately $900 million in Q3
• Revenue of $4.2 billion, down 19% from the third quarter
• GAAP net loss in Q4 of $125 million or $0.24 per share diluted; adjusted net income of $418 million or $0.80 per share diluted
• BlackBerry smartphone shipments of 11.1 million in Q4, down 21% from Q3
• RIM to discontinue providing specific quantitative guidance
• RIM provides update on organizational changes

Q4 Results:

Revenue for the fourth quarter of fiscal 2012 was $4.2 billion, down 19% from $5.2 billion in the previous quarter and down 25% from $5.6 billion in the same quarter of fiscal 2011. The revenue breakdown for the quarter was approximately 68% for hardware, 27% for service and 5% for software and other revenue. During the quarter, RIM shipped approximately 11.1 million BlackBerry smartphones and over 500,000 BlackBerry PlayBook tablets.

“I have assessed many aspects of RIM’s business during my first 10 weeks as CEO. I have confirmed that the Company has substantial strengths that can be further leveraged to improve our financial performance, including RIM’s global network infrastructure, a strong enterprise offering and a large and growing base of more than 77 million subscribers. I’m very excited about the prospects for the BlackBerry 10 platform, which is on track for the latter part of calendar 2012. Notwithstanding these strengths and opportunities, the business challenges we face over the next several quarters are significant and I am taking the necessary steps to address them,” said Thorsten Heins, President & CEO of Research In Motion. “In addition to delivering the BlackBerry 10 platform and refocusing resources on RIM’s key opportunities, such as BlackBerry Mobile Fusion and new integrated service offerings, we will also drive greater operational performance through a variety of initiatives including increased management accountability and process discipline. In parallel, we are undertaking a comprehensive review of strategic opportunities including partnerships and joint ventures, licensing, and other ways to leverage RIM’s assets and maximize value for our stakeholders.”

The Company’s GAAP net loss for the fourth quarter of fiscal 2012 was $125 million, or $0.24 per share diluted, compared with GAAP net income of $265 million, or $0.51 per share diluted, in the prior quarter and GAAP net income of $934 million, or $1.78 per share diluted, in the same quarter of fiscal 2011. Adjusted net income for the fourth quarter was $418 million, or $0.80 per share diluted. Adjusted net income and adjusted diluted earnings per share for the fourth quarter exclude the impact of pre-tax charges of $355 million which are predominantly non-cash ($346 million after tax) for the impairment of goodwill and $267 million ($197 million after-tax) for an inventory provision taken primarily on certain BlackBerry7 products. These charges and their related impacts on GAAP net income and diluted earnings per share are summarized in the tables below.

Reconciliation of GAAP gross margin, gross margin percentage, net income and diluted EPS to adjusted gross margin, gross margin percentage, net income and diluted EPS:

(United States dollars, in millions except per share data)

	For the quarter ended March 3, 2012
	Gross Margin(1) (before taxes)		Gross Margin %(1)(before taxes)		Net Income or (Loss)			Diluted EPS
As reported	$	1,401	33.4	%	$	(125	)		(0.24	)
Adjustments:
Impairment of Goodwill(2)		-	-			346			0.66
Inventory Provision(3)		267	6.4	%		197			0.38
Adjusted	$	1,668	39.8	%	$	418		$	0.80

Note: Adjusted gross margin, adjusted net income and adjusted diluted earnings per share do not have a standardized meaning prescribed by GAAP and thus are not comparable to similarly titled measures presented by other issuers. The Company believes that the presentation of adjusted gross margin, adjusted gross margin percentage, adjusted net income and adjusted diluted earnings per share enables the Company and its shareholders to better assess RIM’s operating results relative to its operating results in prior periods and improves the comparability of the information presented. Investors should consider these non-GAAP measures in the context of RIM’s GAAP results.

(1) During the fourth quarter of fiscal 2012, the Company reported GAAP gross margin of $1.4 billion or 33.4% of revenue. Excluding the impact of charges primarily related to inventory valuation of certain BlackBerry 7 products, the adjusted gross margin was $1.7 billion, or 39.8% of revenue.

(2) Subsequent to the fourth quarter of fiscal 2012, the Company performed a goodwill impairment test and based on the results of that test, the Company recorded a non-cash pre-tax goodwill impairment charge of $355 million, $346 million after tax.

(3) During the fourth quarter of fiscal 2012, the Company recorded a pre-tax provision of approximately $267 million, $197 million after tax, which was mostly non-cash, primarily related to its inventory valuation of certain BlackBerry 7 products.

The total of cash, cash equivalents, short-term and long-term investments was $2.1 billion as of March 3, 2012, compared to $1.5 billion at the end of the previous quarter, an increase of approximately $610 million from the prior quarter. Cash flow from operations in Q4 was approximately $1.1 billion, up from $900 million in Q3. Uses of cash included intangible asset additions of approximately $260 million and capital expenditures of approximately $190 million.

Fiscal 2012 Results

Revenue for the fiscal year ended March 3, 2012 was $18.4 billion, down 7% from $19.9 billion in fiscal 2011. The Company’s GAAP net income for fiscal 2012 was $1.2 billion, or $2.22 per share diluted, compared with GAAP net income of $3.4 billion, or $6.34 per share diluted in fiscal 2011. Adjusted net income for fiscal 2012 was $2.2 billion, or $4.20 per share diluted. Adjusted net income and adjusted diluted earnings per share for fiscal 2012 exclude the adjustments described above as well as the impact of pre-tax charges of $54 million ($40 million after tax) to revenue related to the service interruption experienced in the third quarter, $485 million ($356 million after tax) for the PlayBook inventory provision taken in the third quarter and $125 million ($96 million after tax) for the Company’s cost optimization program that was implemented in the second quarter of fiscal 2012. These charges and their related impacts on GAAP net income and diluted earnings per share are summarized in the tables below.

Reconciliation of GAAP revenue, gross margin, gross margin percentage, net income and diluted EPS to adjusted revenue, gross margin, gross margin percentage, net income, and diluted EPS:

(United States dollars, in millions except per share data)

	For the year ended March 3, 2012
	Revenue (before taxes)		Gross Margin(1)(before taxes)		Gross Margin%(1)(before taxes)		Net Income		Diluted EPS
As reported	$	18,435	$	6,579	35.7	%	$	1,164	$	2.22
Adjustments:
PlayBook Inventory Provision(2)		-		485	2.6	%		356		0.68
Cost Optimization Program(3)		-		14	-			96		0.18
Q3 Service Interruption(4)		54		54	0.3	%		40		0.08
Impairment of Goodwill(5)		-		-	-			346		0.66
Inventory Provision(6)		19		267	1.4	%		197		0.38
Adjusted	$	18,508	$	7,399	40.0	%	$	2,199	$	4.20

Note: Adjusted revenue, adjusted gross margin, adjusted gross margin percentage, adjusted net income and adjusted diluted earnings per share do not have a standardized meaning prescribed by GAAP and thus are not comparable to similarly titled measures presented by other issuers. The Company believes that the presentation of adjusted revenue, adjusted gross margin, adjusted gross margin percentage, adjusted net income and adjusted diluted earnings per share enables the Company and its shareholders to better assess RIM’s operating results relative to its operating results in prior periods and improves the comparability of the information presented. Investors should consider these non-GAAP measures in the context of RIM’s GAAP results.

(1) During fiscal 2012, the Company reported GAAP gross margin of $6.6 billion, or 35.7% of revenue. Excluding the impact of charges related to the PlayBook Inventory Provision, the Cost Optimization Program, the Q3 Service Interruption and the Inventory Provision, the adjusted gross margin was $7.4 billion, or 40.0% of revenue.

(2) During fiscal 2012, the Company recorded a pre-tax provision of approximately $485 million, $356 million after tax, related to its inventory valuation of BlackBerry PlayBook tablets. The charge was predominantly non-cash.

(3) Cost of sales, research and development, and selling, marketing and administration expenses in fiscal 2012 included approximately $11 million, $18 million, and $67 million, respectively, in after-tax charges related to the cost optimization program to streamline operations across the Company.

(4) During fiscal 2012, the Company experienced a service interruption which resulted in the loss of service revenue and the payment of service credits totally approximately $54 million, approximately $40 million after tax, related to the interruption in the availability of the Company’s network.

(5) Subsequent to fiscal 2012, the Company performed a goodwill impairment test and based on the results of that test, the Company recorded a non-cash pre-tax goodwill impairment charge of approximately $355 million, approximately $346 after tax.

(6) In the fourth quarter of fiscal 2012, the Company recorded a pre-tax provision of approximately $267 million, $197 million after tax, which was mostly non-cash, primarily related to its inventory valuation of certain BlackBerry 7 products.

Change to Guidance Practices and Outlook:

The company expects continued pressure on revenue and earnings throughout fiscal 2013. Due to a desire to focus on long term value creation and the current business environment, RIM will no longer provide specific quantitative guidance. Some of the factors contributing to this include, ongoing weakness in the Company’s U.S. smartphone business, an increased focus on selling BlackBerry 7 smartphones to grow the subscriber base in advance of the BlackBerry 10 launch, increasing competitive pressure in the Company’s international markets and the introduction of certain new lower tier service pricing initiatives and a higher mix of sales coming from entry level products.

Organizational and Board of Directors Update:

Jim Balsillie, former Co-CEO of the Company, has resigned as a Director on the Company’s Board.

“As I complete my retirement from RIM, I’m grateful for this remarkable experience and for the opportunity to have worked with outstanding professionals who helped turn a Canadian idea into a global success,” said Jim Balsillie.

“On behalf of the Board and everyone at RIM, I would like to thank Jim for his 20 years of service to RIM,” said Barb Stymiest, Chair of RIM’s Board of Directors. “His energy, drive and enthusiasm helped build one of the most successful technology companies of our time.”

In addition, David Yach will be retiring from his role as CTO, Software after 13 years with the Company and after 4 years with the company and following an open dialogue on the future of global operations, Jim Rowan, COO, Global Operations, has decided to pursue other interests. The Company is currently undertaking a search to hire a single COO with responsibilities to run the Company’s operations.

“RIM would like to thank David Yach and Jim Rowan for their years of service and many contributions to RIM,” said Thorsten Heins, President and CEO. “We wish them well in their future pursuits.”

The Fair Labor Association on Thursday reported that it found serious violations of Chinese labor laws during its inspections of Foxconn’s electronics manufacturing plants in various cities across China. The inspections, which were prompted by Apple after the company became the focus of renewed public outcry over the poor working conditions in plants that manufacture its iPad, iPhone and other devices, found that safety violations and illegal overtime were among the biggest issues at Focxonn’s facilities. ”Apple and Foxconn are obviously the two biggest players in this sector and since they’re teaming up to drive this change, I really do think they set the bar for the rest of the sector,” FLA President Auret van Heerden told Reuters. Foxconn responded by saying it would hire tens of thousands of new workers, take a more proactive role in preventing employees from working illegal overtime and improve safety protocols in its factories.

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Apple has just announced that the company sold a record 3 million iPads since the new tablet’s launch this past Friday. “The new iPad is a blockbuster with three million sold―the strongest iPad launch yet,” said Philip Schiller, Apple’s senior vice president of Worldwide Marketing. “Customers are loving the incredible new features of iPad, including the stunning Retina display, and we can’t wait to get it into the hands of even more customers around the world this Friday.” Hit the break for Apple’s full press release.

New iPad Tops Three Million
CUPERTINO, California―March 19, 2012―Apple® today announced it has sold three million of its incredible new iPad®, since its launch on Friday, March 16. The new iPad features a stunning new Retina™ display, Apple’s new A5X chip with quad-core graphics, a 5 megapixel iSight® camera with advanced optics for capturing amazing photos and 1080p HD video, and still delivers the same all-day 10 hour battery life* while remaining amazingly thin and light. iPad Wi-Fi + 4G supports ultrafast 4G LTE networks in the US and Canada, and fast networks around the world including those based on HSPA+ and DC-HSDPA.**

“The new iPad is a blockbuster with three million sold―the strongest iPad launch yet,” said Philip Schiller, Apple’s senior vice president of Worldwide Marketing. “Customers are loving the incredible new features of iPad, including the stunning Retina display, and we can’t wait to get it into the hands of even more customers around the world this Friday.”

The new iPad is already available in the US, Australia, Canada, France, Germany, Hong Kong, Japan, Puerto Rico, Singapore, Switzerland, UK and the US Virgin Islands and will be available in 24 more countries starting at 8:00 a.m. local time on Friday, March 23 through the Apple Online Store (www.apple.com), Apple’s retail stores and select Apple Authorized Resellers, including Austria, Belgium, Bulgaria, Czech Republic, Denmark, Finland, Greece, Hungary, Iceland, Ireland, Italy, Liechtenstein, Luxembourg, Macau, Mexico, The Netherlands, New Zealand, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain and Sweden.

The new iPad Wi-Fi models are available in black or white for a suggested retail price of $499 (US) for the 16GB model, $599 (US) for the 32GB model, $699 (US) for the 64GB model. iPad Wi-Fi + 4G for either AT&T or Verizon is available for a suggested retail price of $629 (US) for the 16GB model, $729 (US) for the 32GB model and $829 (US) for the 64GB model. iPad is sold in the US through the Apple Online Store (www.apple.com), Apple’s retail stores and select Apple Authorized Resellers. Additionally, the incredible iPad 2 is now offered at a more affordable price of $399 (US) for the 16GB Wi-Fi model and just $529 (US) for the 16GB Wi-Fi + 3G model.

Apple on Monday hosted a conference call to reveal the fate of at least some of the $100 billion in cash and cash equivalents the company has amassed over the past few years. Apple announced that it plans to repurchase $10 billion of stock over the next three years, in addition to paying out a $2.65 quarterly dividend. Over the next three years, the compay expects to spend $45 billion. Apple’s press release follows below.

Apple Announces Plans to Initiate Dividend and Share Repurchase Program

Expects to Spend $45 Billion Over Three Years

CUPERTINO, Calif.–(BUSINESS WIRE)–Apple® today announced plans to initiate a dividend and share repurchase program commencing later this year.

“Even with these investments, we can maintain a war chest for strategic opportunities and have plenty of cash to run our business. So we are going to initiate a dividend and share repurchase program.”

Subject to declaration by the Board of Directors, the Company plans to initiate a quarterly dividend of $2.65 per share sometime in the fourth quarter of its fiscal 2012, which begins on July 1, 2012.

Additionally, the Company’s Board of Directors has authorized a $10 billion share repurchase program commencing in the Company’s fiscal 2013, which begins on September 30, 2012. The repurchase program is expected to be executed over three years, with the primary objective of neutralizing the impact of dilution from future employee equity grants and employee stock purchase programs.

“We have used some of our cash to make great investments in our business through increased research and development, acquisitions, new retail store openings, strategic prepayments and capital expenditures in our supply chain, and building out our infrastructure. You’ll see more of all of these in the future,” said Tim Cook, Apple’s CEO. “Even with these investments, we can maintain a war chest for strategic opportunities and have plenty of cash to run our business. So we are going to initiate a dividend and share repurchase program.”

“Combining dividends, share repurchases, and cash used to net-share-settle vesting RSUs, we anticipate utilizing approximately $45 billion of domestic cash in the first three years of our programs,” said Peter Oppenheimer, Apple’s CFO. “We are extremely confident in our future and see tremendous opportunities ahead.”

Apple will provide live streaming of a conference call to discuss its plans beginning at 6:00 a.m. PDT on Monday, March 19, 2012 at www.apple.com/quicktime/qtv/call31912. The Company will not be providing an update on the current quarter nor will any topics be discussed other than cash. This webcast will also be available for replay for approximately two weeks thereafter.

Apple has just alerted the media that it plans to discuss what the company will do with its $100 billion in cash tomorrow at 9:00 AM ET. The most logical assumption is Apple will issue a dividend to shareholders. Or buy part of Samsung or something crazy. Press release follows.

WHAT: Tim Cook, Apple’s CEO, and Peter Oppenheimer, Apple’s CFO, will host a conference call to announce the outcome of the Company’s discussions concerning its cash balance. Apple® will not be providing an update on the current quarter nor will any topics be discussed other than cash.

WHERE: Via conference call. The dial-in number for press is (877) 616-0063 (toll-free) or (719) 219-0041. Please enter confirmation code 592016.WHEN: Monday, March 19, 2012 at 6:00 a.m. PDT/9:00 a.m. EDT

REBROADCAST: The conference call will be available as a continuous rebroadcast beginning Monday, March 19 at 9:00 a.m. PDT/12:00 p.m. EDT through Monday, April 2 at 9:00 a.m. PDT/12:00 p.m. EDT. The dial-in number for the rebroadcast is (888) 203-1112 (toll-free) or (719) 457-0820. Please enter confirmation code 6274937.

WEBCAST: Apple will provide live audio streaming of its conference call using Apple’s industry-leading QuickTime® multimedia software. The live webcast will begin at 6:00 a.m. PDT on March 19, 2012 at www.apple.com/quicktime/qtv/call31912 and will also be available for replay for approximately two weeks thereafter. The webcast is available on any iPhone®, iPad®, iPod touch® or any Mac® or PC running QuickTime 6 or later. If you do not have QuickTime installed on your Windows PC, it is available at www.apple.com/quicktime.

This recording is the property of Apple and protected by U.S. copyright law and international treaties. Any reproduction or distribution is strictly prohibited without prior written approval from Apple. Please contact Apple Public Relations or Investor Relations with any questions.Apple designs Macs, the best personal computers in the world, along with OS X, iLife, iWork and professional software. Apple leads the digital music revolution with its iPods and iTunes online store. Apple has reinvented the mobile phone with its revolutionary iPhone and App Store, and is defining the future of mobile media and computing devices with iPad.

Apple has just confirmed that the company’s brand new iPad will be available for in store purchase starting at 8:00 a.m. local time this Friday from Apple retail stores. AT&T and Verizon stores, in addition to authorized Apple retailers like Best Buy and Target (pronounced: tar-jay) will also be selling the iPad in the United States. Apple’s iPad will also make its way around the world in the company’s fastest product roll-out ever, touching down in Australia, Canada, France, Germany, Hong Kong, Japan, Singapore, Switzerland and the United Kingdom.

CUPERTINO, California―March 14, 2012―Apple® today announced the new iPad®, the third generation of its category defining mobile device, will arrive at Apple’s retail stores and the Apple Online Store (www.apple.com) on Friday, March 16 at 8:00 a.m. local time in the US, Australia, Canada, France, Germany, Hong Kong, Japan, Singapore, Switzerland and the UK; along with Puerto Rico and the US Virgin Islands.

The new iPad features a stunning new Retina™ display, Apple’s new A5X chip with quad-core graphics and a 5 megapixel iSight® camera with advanced optics for capturing amazing photos and 1080p HD video and still delivers the same all-day 10 hour battery life* while remaining amazingly thin and light. iPad Wi-Fi + 4G supports ultrafast 4G LTE networks in the US and Canada, and fast 3G networks around the world including those based on HSPA+ and DC-HSDPA.** Additionally, iPad 2 is available at a more affordable price starting at just $399.

Every customer who buys a new iPad at an Apple retail store will be offered free Personal Setup service, helping them customize their iPad by setting up email, loading new apps from the App Store™ and more, so they’ll be up and running with their new iPad before they leave the store. Personal Pickup, available at Apple retail stores in the US and a feature of the free Apple Store® app, lets iPad customers shop and buy from anywhere they are, then pick up their purchase at any Apple retail store. In the US the new iPad will also be available at Best Buy, Radio Shack, Sam’s Club, Target and Walmart.

Pricing & Availability
The new iPad Wi-Fi models will be available in black or white starting on Friday, March 16 for a suggested retail price of $499 (US) for the 16GB model, $599 (US) for the 32GB model, and $699 (US) for the 64GB model. iPad Wi-Fi + 4G for ultrafast 4G LTE networks in the US and Canada and fast 3G networks around the world including those based on HSPA+ and DC-HSDPA, will be available for a suggested retail price of $629 (US) for the 16GB model, $729 (US) for the 32GB model and $829 (US) for the 64GB model. iPad will be sold in the US through the Apple Online Store (www.apple.com), Apple’s retail stores, and select Apple Authorized Resellers. Additionally, the incredible iPad 2 is now offered at a more affordable price of $399 (US) for the 16GB Wi-Fi model and just $529 (US) for the 16GB Wi-Fi + 3G model. iOS 5.1 and iTunes® 10.6 are currently available as free software updates. iPhoto®, iMovie® 1.3 and GarageBand® 1.2 are now available for $4.99 (US) each from the App Store (www.itunes.com/appstore). Keynote® 1.6, Pages® 1.6 and Numbers® 1.6 are available for $9.99 (US) each from the App Store. Updates are available for free to existing customers.

Starting March 23 the new iPad will be available in Austria, Belgium, Bulgaria, Czech Republic, Denmark, Finland, Greece, Hungary, Iceland, Ireland, Italy, Liechtenstein, Luxembourg, Macau, Mexico, The Netherlands, New Zealand, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain and Sweden.

*Battery life depends on device settings, usage and other factors. Actual results vary.

**4G LTE is supported only on AT&T and Verizon networks in the US and on Bell, Rogers and Telus networks in Canada. Data plans sold separately.

Apple designs Macs, the best personal computers in the world, along with OS X, iLife, iWork and professional software. Apple leads the digital music revolution with its iPods and iTunes online store. Apple has reinvented the mobile phone with its revolutionary iPhone and App Store, and is defining the future of mobile media and computing devices with iPad.