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  • Executive Shakeup Confirmed as RIM's Latest Revenues Disappoint... Again


    The writing has been on the wall for quite some time now. But today, as BlackBerry maker Research In Motion once again reported quarterly earnings and revenue that missed analysts' expectations, things looked especially dire. RIM had previously offered guidance of $4.6 to $4.9 billion in revenue for Q4, but revenue actually came in lower at $4.2 billion.

    After trading of RIM was halted for the announcement, the stock fell a precipitous 9% upon the commencement of after-hours trading. Although some of the losses were regained, other losses for RIM will be permanent - namely
    the loss of some key senior executives.

    Most notable within the shakeup is former co-CEO Jim Balsillie, who is leaving his post as director. Meanwhile, Chief Executive Thorsten Heins, who replaced co-CEOs Balsillie and Mike Lazaridis earlier this year, said other options remain on the table for RIM, including a potential sale of the company.

    "I did my own reality check on where the entire company really is. Having had the benefit of going through this process from the vantage point of CEO, it is now very clear to me that substantial change is what RIM needs," Heins said during today's conference call.

    Unable to compete with others - chiefly Apple - in the smartphone and tablet space, things aren't looking up for the one-time king of the mobile world.

    "Ultimately, RIM is taking half measures, baby-stepping their way to a reorganization and they're not moving fast enough," Ed Snyder, an analyst with Charter Equity Research, tells Reuters. "They need a wholesale change in the culture and the management of the company."

    Source: Reuters
    This article was originally published in forum thread: Executive Shakeup Confirmed as RIM's Latest Revenues Disappoint... Again started by Michael Essany View original post
    Comments 8 Comments
    1. RICO_'s Avatar
      RICO_ -
      When did RIM's troubles or company restructuring become Apple's concern......or Apple-related news?

      The mods pride themselves on keeping things on topic....and that's just fine, but how is it that an entire article is being brought forward on an "Apple fan site" on the doings of another company that as far as I can see have no effect on Apple?

      Did I miss something here?

      If I'm wrong please let me know. But please don't hit me with the predictable half-minded ..."if you don't like the article then don't read it"... response because I have to first read the article before I decide if I like it or not..obviously.
    1. scroogelives's Avatar
      scroogelives -
      Quote Originally Posted by RICO_ View Post
      When did RIM's troubles or company restructuring become Apple's concern......or Apple-related news?

      The mods pride themselves on keeping things on topic....and that's just fine, but how is it that an entire article is being brought forward on an "Apple fan site" on the doings of another company that as far as I can see have no effect on Apple?

      Did I miss something here?
      Maybe cause apples iPhone is one of the main reasons the blackberry is dying
    1. RICO_'s Avatar
      RICO_ -
      Quote Originally Posted by scroogelives View Post
      Maybe u apples iPhone is one of the main reasons the blackberry is dying
      We knew this a long time ago.
    1. evolution83's Avatar
      evolution83 -
      Quote Originally Posted by RICO_ View Post
      When did RIM's troubles or company restructuring become Apple's concern......or Apple-related news?

      The mods pride themselves on keeping things on topic....and that's just fine, but how is it that an entire article is being brought forward on an "Apple fan site" on the doings of another company that as far as I can see have no effect on Apple?

      Did I miss something here?

      If I'm wrong please let me know. But please don't hit me with the predictable half-minded ..."if you don't like the article then don't read it"... response because I have to first read the article before I decide if I like it or not..obviously.
      This isn't the first article posted that deals with news other than Apple. As already mentioned, the article discusses how RIM is losing sales to Apple because they're top dog ATM.
    1. RICO_'s Avatar
      RICO_ -
      Quote Originally Posted by evolution83 View Post
      This isn't the first article posted that deals with news other than Apple. As already mentioned, the article discusses how RIM is losing sales to Apple because they're top dog ATM.
      Yes that was "mentioned", but the main focus of the article is about the corporate restructuring of the company.

      If those moves also discuss the plans that these executives intend to put forward to attempt to compete with Apple then I can see the relevance, but just saying that they are restructuring doesn't tell me anything.
    1. thazsar's Avatar
      thazsar -
      I was actually interested in reading this!!! LOL! IMHO, It's better than the rumor-mill that's about to ensue as the iPhone 5 gets closer to production...
    1. Kenn@rd.'s Avatar
      Kenn@rd. -
      Quote Originally Posted by RICO_ View Post
      When did RIM's troubles or company restructuring become Apple's concern......or Apple-related news?

      The mods pride themselves on keeping things on topic....and that's just fine, but how is it that an entire article is being brought forward on an "Apple fan site" on the doings of another company that as far as I can see have no effect on Apple?

      Did I miss something here?

      If I'm wrong please let me know. But please don't hit me with the predictable half-minded ..."if you don't like the article then don't read it"... response because I have to first read the article before I decide if I like it or not..obviously.
      Wow, that's crazy, but we knew this already, maybe RIM can make some keyboard adapters since that they were mostly known for and sell them to apple(RIM) was known for having the actual keyboard qwerty on a cellphone other than Nokia. Hence the name blackberry. Such a good phone back in the day but there is no way they can keep up with apple, if u can't beat em, join em I say. Make some flip out keyboards for some of us who still like the feel of "buttons" eh?
    1. varunsipp's Avatar
      varunsipp -
      blacberry has fallen in market share as well. its disappointing for a company. Something new may recover blackberry.