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.
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“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.