Embattled smartphone maker Research in Motion has revealed that it has lost a million customers during the past financial quarter.
According to the New York Times, the company hopes to turn the corner with the release of its next-generation BlackBerry 10 smartphones early next year.
“We believe the company has stabilized and will turn the corner in the next year” says RIM chief executive Thorsten Heins.
“We are realistic about our competitors, but we know that customers in this industry demand and respond to innovation.”
The Canadian smartphone maker, which carries no debt, has been pursuing a strategy of hoarding cash ahead of the launch, with cash reserves increasing during the quarter by $US600 million to $US2.9 billion.
Heins says the company will end the strategy, with the company currently stockpiling inventories of its BlackBerry 10 smartphones and planning a major ad campaign to promote the new devices.