Manufacturer of the BlackBerry smartphone, predict second quarter income that missed analysts’ estimates and allege it will cut jobs as a lack of latest models on times consumers to purchase competitor gadgets.

The stock cut down in so far as 16% in late trading following RIM said income this quarter would be 75% to $1.05 a share.  Analysts forecasted $1.40, eliminating several costs, according to a Bloomberg study. RIM said, income will be $4.2 billion to $4.8 billion in the three months through August, compared with the standard estimate of $5.47 billion.

RIM is behind . . . → Read More: BlackBerry, Soon to Cut Jobs