Its hard to see things that you never thought would die, die. RIM, Research in Motion, the company behind the BlackBerry name is now coming up on its last hoorahs. And its coming up fast. Today they reported the Q1 earning for 2013 and the numbers are a disappointment. Company revenue is down to $2.2 Billion from $4.2 Billion, they sold only 7.8 million phones, and plans for the new Blackberry 10 has been pushed back to sometime next year. To add insult to injury, as soon as these numbers were made public, stocks dropped 17%, hitting lows of $9.17 a share today. To put that in perspective for you, it was trading at $30 a share just a year ago. Damn.
But before you go out and try to buy the latest BlackBerry thinking it may be a relic soon just know that you shouldn’t feel too bad for this company. Its the golden rule of technology today. You have to keep moving forward. RIM was a company set in its ways and refused to adapt. The industry was forever changing with all the iPhones, Androids and even Windows phones constantly implementing new tech. To not change was certain death, and it seems as though the dice was rolled and RIM has come up short. The vultures are definitely circling.
- RIM earnings expected to disappoint (cbc.ca)
- RIM may sell handset business to Facebook or Amazon (bgr.com)
- Rumor: RIM to split up the company; the handset unit will be sold (intomobile.com)