These days, news from the BlackBerry front is not sounding so great. Despite getting set to launch seven new smartphones on their new operating system, Research in Motion (RIM) is facing some pretty big problems.
Admitting that they have some “challenges” ahead, Jim Balsillie, the company’s co-CEO, says the new round of release will help RIM “stay on track.” But analysts aren’t quite convinced, says The Guardian’s Charles Arthur. And at the company’s recent annual meeting, one shareholder reportedly asked about a “poison pill” option in the event of a hostile take-over bid.
Once a smartphone leader, RIM has struggled in the face of Apple’s iPhone and iPad releases, as well as stiff competition from the Android platform. RIM has also seen its valuation drop from a 2008 high of $75.2 billion to just $13.6 billion this year as well as a 50% drop in share prices. The company’s much-heralded entrance into the tablet space via the PlayBook, has fallen flat, the job market for BlackBerry OS developers is shrinking, and an unnamed executive recently released an open letter to company co-CEOs Balsillie and Mike Lazaridis asking them to prioritize consumer needs ahead of the demands of carriers.
Lazaridis says the company will be focusing on a core strength, RIM’s reputation for email security, as it targets government agencies and public and private groups.
About that poison pill…
Read more at The Guardian.