Executive bails out of sinking RIM ship to land on high flying Samsung

Executive bails out of sinking RIM ship to land on high flying Samsung
As if RIM didn't have enough problems to deal with. Over the last few days we reported that the company had failed to produce the earnings that the Canadian based firm itself had estimated for the first quarter, and then had to cut estimates for the current three month period and for the year. At the same time, RIM announced that the 4G version of the BlackBerry PlayBook would be delayed until the fall. These stories led to a huge drop in the company's stock. All of these stories were preceded by news that the handset that RIM was counting on to compete this summer with Apple and Android, the BlackBerry Bold 9900, will have its global launch delayed until September. Now, top executives are leaving the company.

On the heels of losing its top chief marketing officer and the VP of brand creativity, Advertising Age is reporting that RIM is losing Brian Wallace, VP of digital marketing and media. Wallace is heading to Samsung Mobile which the Korean based firm confirmed. The magazine reports that at Samsung, Wallace will work on branding and offline media. The Executive spent 11 years with RIM and helped the company garner a large audience on Facebook and Twitter and has been a long time fan of distributing content over devices-even non traditional ones like cars and refrigerators. He is leaving the 3rd largest smartphone manufacturer in the U.S. for the leader.

source: AdvertisingAge via BGR



1. jroc74

Posts: 6023; Member since: Dec 30, 2010

Smart move...

2. quakan

Posts: 1419; Member since: Mar 02, 2011

Let's see if RIM can recover

4. davecann2

Posts: 460; Member since: Mar 15, 2011

I think RIM can recover. I, coming from an IT background, know the importance of the security RIM's Blackberry had on corp. email. On the other side with the technology provided by Microsoft’s latest Exchange Server there is no need for the security of the BB. I think i posted this in another comment... RIM needs to disappear and comeback a reinvented technology. Their market in the mobile business word is dwindling and they need something unexpected. Maybe focus on software products instead of their dated phone line. I also thought they had a good product with their Playbook but came up sort. They should have come out with that product last year when the only real competitor was the ipad

9. quakan

Posts: 1419; Member since: Mar 02, 2011

Also the problem with RIM is that people have grown very accustomed to their BBs and it's software. Consumers get bored after awhile so if a company doesn't offer something new and fantastic they will lose customers...I feel like RIM waited to long to respond to the customers change in interests. It would have been best if they had something new and fresh in the works when iOS and Android appeared on the scene.

3. RicNP

Posts: 32; Member since: Jan 28, 2011

buy put buy put buy put....

10. Droid_X_Doug

Posts: 5993; Member since: Dec 22, 2010

Um, minor detail, but you are selling Puts. But I do agree, Rim's share price is going to fall some more....

5. luis_lopez_351

Posts: 951; Member since: Nov 18, 2010

There QNX adopted android, good. Now do that with all their other devices.(can be any other OS if want to like wp7 or Web Os)

6. MIP unregistered

7. hmmm unregistered

I think Rim could rise again if it had a Torch series. Also they should make touchscreen phones, since they are obvioulsy destroying in the market.

8. Epc unregistered

Rims employees have finally seen that times are changing, you have been leap frogged by apple first, then android... Rim will come back, after all they made the blackberry almost the definition of a smart-phone(shanks windows mobile) for a while.

11. marketman unregistered

Droid X Doug, you are wrong. If you are betting on a decline of a stock, you are buying puts. If you are betting on a stock to rise you buy a call. I have 40 years experience trading options. You? When you buy a put it gives you the right to put it to someone at a set price for a limited amount of time. For example, those who BOUGHT the RIM September 50 puts could put the stock to the option seller at a price of 50 even though the stock is well under that price now.

12. GedgeTile unregistered

hi all i thing buy panasonic camera. What is your recommendation model? Best regards.

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