Shares in Blackberry manufacturer, Research In Motion, have plunged after the company yesterday announced worse-than-expected financial results.
They fell more than 20% in New York.
RIM has announced a cost-cutting programme, including job losses, after saying it had missed even its lowered financial expectations and reduced its profit forecasts.
In the three months to May 28, the company's net profit was £430-million - down from £769-million in the same period last year.
RIM has admitted it's selling fewer Blackberry smartphones than expected and there have been delays in the introduction of new products. It's struggling against increasing sales of Apple's iPhone and Android OS devices.
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