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BlackBerry maker to sell corporate jet to save costs

BlackBerry maker to sell corporate jet to save costs

By Reuters | Updated: 10 July 2012 21:36 IST

Research In Motion Ltd will sell one of its two corporate jets as part of an effort by the embattled smartphone maker to save $1 billion in annual costs throughout its operations, a report said on Tuesday.

The BlackBerry maker has put its nine-passenger jet up for sale, looking to fetch some $6 million to $7 million, Bloomberg News reported, citing unidentified sources with knowledge of the matter. RIM will hold on to its 14-passenger jet.

A company spokesperson was not immediately available to comment on the story.

Overall, Waterloo, Ontario-based RIM is looking to save some $1 billion in operating costs this year through efficiencies, including layoffs, as its BlackBerry smartphones loses market share and losses mount.

Research In Motion Ltd will sell one of its two corporate jets as part of an effort by the embattled smartphone maker to save $1 billion in annual costs throughout its operations, a report said on Tuesday.

The BlackBerry maker has put its nine-passenger jet up for sale, looking to fetch some $6 million to $7 million, Bloomberg News reported, citing unidentified sources with knowledge of the matter. RIM will hold on to its 14-passenger jet.

A company spokesperson was not immediately available to comment on the story.

Overall, Waterloo, Ontario-based RIM is looking to save some $1 billion in operating costs this year through efficiencies, including layoffs, as its BlackBerry smartphones loses market share and losses mount.

Copyright Thomson Reuters 2012

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