RIM May Dump Cloud Services Provider NewBay

Further turmoil inside of embattled smartphone maker Research in Motion Monday, as news comes that the BlackBerry producer may dump it’s cloud service provider NewBay.

According to sources speaking with Reuters this morning, NewBay may be pitched along with some of the other “minor assets” it recently acquired.

The decision by RIM will be seen as another aspect of its strategic review process.

RIM acquired NewBay, a provider of photo, video, and social-networking tools for smartphones and computers, in October 2011 for reportedly around $100 million, as it sought to roll out a new strategy to stem its steady decline.

NewBay had in excess of 80 million subscribers at the time of RIM’s initial acquisition. But with RIM’s share price plummeting more than 60 percent during the last year, RIM is said to be looking for a fresh start across its product and services lines.

The jettisoning of NewBay will likely contribute to that effort.