RIM Announced Its Future Plans In Annual Shareholders’ Meeting: Could Re-election Of Board Of Directors Bring Success?

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Abhishek Singhhttp://dazeinfo.com
An Engineering Graduate, Fervent Industry Analyst, passionate about mobile, innovative technologies and Entrepreneurship.

On Tuesday, RIM discussed its future plans during company’s annual shareholders’ meeting in its homeland. The Company’s CEO–Thorsten Heins–assured shareholders that RIM is still a leader in the enterprise devices and it has number of plans to modify its structure. The Canadian handset manufacturer has also re-elected its board of directors for smooth and proper running of the company. It’s true, over the last year, the performance of the company has not been satisfactory, which the CEO has also accepted.

As we already discussed some major drawbacks of the company since last couple of years. And this time, it’s planning to split out the entire division into two parts–Networking and hardware. But, it’s very tough decision, because both are the cornerstones of the company, without one other will have no meaning.

Over the past several months, the company has been convincing to its shareholder to keep patience till Q1 2013. The company has kept a huge expectations from forthcoming BlackBerry 10 OS, delaying to January of next year. Considering over past 30 days, company’s market share plummeted more than 20%, how miserable it is.

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Apple has sparked out a fierce competition for Research in Motion after the launch of iPhone in 2007. That time, BlackBerry was indeed a premier Smartphone brand among business and professionals.  But now, the market is completely dominated by Apple’s iPhone and Google’ Android-based Smartphones. During this period, RIM’s market share has been decline by 90%.

Last year, RIM’s co-CEO—Mike Lizaridis—said during annual shareholders meeting that the company was seeking for significant transition in business. But really, significant transition could not work for the company. Company’s stock price was  above $27 before annual shareholders meeting last year, but now, it has reached to $8.

Are you really seeing any beam of hopes for the company this time? For RIM, there’s dark after  the end of tunnel. The reason is quite obvious, the competition is going to be intensified later this year due to advent of Amazon and Google in the Smartphone sector. At present, Amazon is also planning to launch Smartphone at the subsidized price with carrier independence, on the other side, Google has succeeded to acquire Motorola Mobility and it’s looking for integrated hardware and software ecosystem.

Here, I’m not going to explain about RIM’s last major product release “PlayBook”. However, the company laid off the price of the device at the end of last year, but the strategy didn’t work to entice users. Google Nexus 7  Tablet is in the market and lots of players (like Amazon) are planning to introduce reinvigorate models. In addition to these, RIM is also going to miss holiday season this year if it will launch its device next year. Anyway, upcoming quarters are not providential for RIM and shareholders are already knowing the facts.

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