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RIM Not Doing Anything Wrong?

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Despite the plunging share price, RIM’s CEO Thorsten Heins recently declared that there is nothing wrong with the company… RIM is in a bad financial situation due to poor sales, but executives are not losing hope. This seems ironic as RIM’s current value has dipped to an all-time low.

What seemed like a wholehearted effort from its recently appointed CEO to wait for its “next big thing”, the Waterloo-based company is going through a difficult period as it tries to get back to the top. RIM’s CEO went on to say that the current state of the company is stable and reassures investors and users not to worry since they will do whatever it takes to be able to compete against other major players again.

Since Thorsten Heins took over as the new CEO earlier this year, nothing much has changed except the fact that sales are plunging. While rumours are swirling that Heins is trying to put the company for sale, none of those were confirmed. RIM executives have asked for services from several bankers. They want to have a clear view of the different strategic options they have to resolve the company’s current financial crisis.

RIM’s stock value took a major dive as its all-time high share price of $147 has dropped to an all-time low share price of $7.35. Another bad news followed with the announcement of the delay of BlackBerry new operating system. BlackBerry 10 will indeed not be released late 2012 but early 2013.

RIM reassured its investors and loyal customers how it would shift the tide with its new platform as well as its new line of devices. It is said the revamped platform will give users an enriching experience allowing them to use the new handsets in various everyday applications such as credit card payments…

While many believe RIM has finally met its end, others aren’t giving up too easily. The company is said to be in a major transition on a make-or-break scenario that would determine its faith. Will the next generation of BlackBerry devices change the way users communicate with each other?

RIM is doing what needs to be done to counteract further losses. With about one third of its workforce gone, the development of its new platform had to be delayed. RIM had no other choice than delaying the release of its highly touted BlackBerry 10 platform to the first semester of 2013.

Want to read more from the same author? Check out this article on BB 10, BlackBerry’s upcoming platform.

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