June 15, 2012
RIM/Blackberry Woes ∞ Research In Motion, makers of the BlackBerry and PlayBook lost $125 million in the 4th quarter, their first loss since 2005. The last quarter of 2011 was the 5th consecutive quarter in which RIM missed their earnings estimate, despite shipping 11 million BlackBerries and half a million PlayBooks. Rumor has it that RIM will be looking for a buyout. Blackberry users might do well to start looking at iPhones and Android phones. ∞ RIM has postponed its annual investors meeting, normally held during the Blackberry World conference in early May, to an unspecified time later in the year. RIM explained it wanted to focus BlackBerry World on customers and developers and hold a separate session for investors once Blackberry 10 is launched. BlackBerry 10 is the long awaited update to RIM's mobile operating system. ∞ Former RIM CEO Jim Balsillie is retiring and leaving the board of directors along with two other senior executives. Balsillie announced his retirement shortly after RIM reported a $125 million loss for last quarter. ∞ RIM announced at the end of March that it would be exiting the consumer phone market to focus on big business. It is an interesting announcement considering RIM was building a strong customer base among teenagers more interested in texting than making phone calls. Despite not having huge, shiny screens or sexy apps, BlackBerries have become the most popular mobiles for British teens. One reason for this may be due to BlackBerry Messenger's ability to send "one to many" text messages which are untraceable by police, something teenagers may have found useful during the summer riots of 2011.