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News Summary: Disappointing results at RIM

Associated Press Published: June 28, 2012

BAD NEWS: BlackBerry maker Research in Motion Ltd. delivered several pieces of bad news to investors. It's cutting 5,000 jobs and delaying the launch of a new phone operating system.

THE BACKDROP: The company has already been struggling to compete with the iPhone and Android devices.

SIGNIFICANCE: The phone delay will make it even tougher to compete. RIM has pinned its hope on that system, BlackBerry 10, which is meant to offer the multimedia, Internet browsing and apps experience that customers now demand.