Bad news for RIM drops stock 14%: a poor earnings report and a delay in the 4G BlackBerry PlayBook
0. phoneArena 16 Jun 2011, 17:19 posted on
RIM reported lower than expected Q1 earnings, lowering its expectations for the current period and the rest of the year; at the same time, RIM announced that the 4G BlackBerry PlayBook will be delayed until this fall and announced that job cuts are a possibility...
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1. nb2six (Posts: 298; Member since: 27 Apr 2011)
Adios RIM..They delay the release of the new bold and torch till late august, with layoffs starting in the factories. I'd say it's a tough time to still stay loyal to a once dominate company in the mobile industry.
2. hepresearch (unregistered)
hmmm... not too surprised. Nokia = original suicide jumper, RIM = first lemming, HP = second lemming... Microsoft = vulture feasting at the bottom of the cliff.
3. TreyTreyTaylor (Posts: 497; Member since: 21 Dec 2010)
Aw man, first palm now blackberry. Actually palm was never as big as RIM in the first place but anyways, this should be a big lesson to them. RIM's problem is thinking that their "devoted" business users" will never feel the need to switch operating system's. Wake up and get cracking with phones more innovative. Motorola proved that going all in on something different can have amazing results (og droid single-handedly revived the first company to make a cell phone). Even though I personally would never leave android due to being spoiled with features, I would really hate to see Blackberry go.
4. cornerofthemoon (Posts: 546; Member since: 20 Apr 2010)
RIM's fumble may be a great opportunity for HP and webOS to win the bronze medal. Nokia may be too late to help Microsoft win third place.
5. GALAXY-S (Posts: 701; Member since: 07 Jun 2011)
Sorry RIM you cannot compete with 2008 technology any longer
6. biglebronski (Posts: 22; Member since: 18 Mar 2011)
RIM does need to get into gear quickly to catch back up. Too bad their 2011 devices won't be ready until almost 2012. Some of them look like they could actually be competitive right now. That being said, if that $695M is actual earnings, and not revenue, RIM should still have plenty of time to get back in the game. There are plenty of BB loyalists still out there to float them along for a little while.
...By the way, a good bit of RIM's losses could be due to people waiting anxiously for those new devices. Problem is, the longer they stall, the more flashy new devices become available in the meantime.