8 Great Tech Brands Losing Money

Bangalore: No single brand is smart enough to rule the world of technology for too long. Before you know it a new player arrives and becomes number one. This competitive atmosphere in the market along with the evolving technology keeps the companies on their toes and compels them to come up with path breaking products. A company that fails to move ahead with the times is destined to be doomed. 24/7 Wall St has come up with a list of 8 such electronic companies that were ones the market leaders but are losing money now.


1. RIM (Research in Motion)

Lost: $125 million in the fourth quarter of fiscal 2012

RIM is better known for its BlackBerry smartphones that were launched in 1999. They pioneered the smartphone market. But the company is now reporting losses after facing a tough competition from Google’s android smartphones. RIM revenues were down 24 percent as compared to last year.

BlackBerry’s share of the US smartphone market reduced from 16 percent to 12.3 percent last year. The company is coming up with BlackBerry 10 handsets later this year which may be their only hope.