BlackBerry maker RIM’s stock hits 8 year low

May 3, 2012
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On a day when all eyes in the mobile space are turned towards Samsung, Research in Motion has got to be feeling pretty low - and not just for the lack of attention. The Canadian BlackBerry manufacturer's stock slid to just $11.91 today, losing over 15% of their value in the last three days alone.  To add insult to injury, this financial blow comes just two days after RIM's BlackBerry World 2012 conference, where ir introduced a new hardware and software platform.

RIM has been floundering for the last year, trying to find some way of stopping its losing fight against the smartphone encroachment of the iPhone and Android. Nothing seems to be working: BlackBerry is approaching single-digit market share in the smartphone segment. BlackBerry 10 is the company's latest hope, but response to the May 1st unveiling has been skeptical at best, and downright derogatory at worst. The company's next-generation software platform, still far behind its competitors, is rumored for an October release.

When hearing more and more dire news out of RIM, it's hard not to think of their former competitor Palm, which despite new and even promising software was muscled out of the smartphone segment by the same players. Palm was eventually bought by HP, which couldn't find a market for its admittedly solid WebOS either. While Samsung and Apple soar, RIM seems to be trying almost anything to hold its ground, including some embarrassing and questionable marketing campaigns like a flash mob of mock protesters outside an Australian Apple store. Perhaps not coincidentally, RIM is looking for a new marketing executive.

[via CBS News]


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