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

Must Read

Google Just Got Super Smart: Launches The Knowledge Graph

If there is one product on the Internet that has had absolutely no competition whatsoever, it is Google Search....

When A Guy Bought Google Domain For Rs 415 And Pulled The Search Engine Down!

Google is the world’s biggest search engine and it has got its own country-specific domains for almost every nation....

E-Commerce Industry In India Worth $13.5 Billion In 2014: Will Cross $16 Billion In 2015

According to the latest report by IAMAI and IMRB International, the eCommerce industry in India reached a value of INR 81,525...

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.

Advertisements

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.

3 COMMENTS

LEAVE A REPLY

Please enter your comment!
Please enter your name here
Advertisements

Latest News

The New Attempt To Censor Covid Related Info On Social Media Platforms By GOI?

The Government of India has always had an ongoing tussle with social media platforms when it comes to content...

In-Depth: Dprime

Will ‘TikTok By Microsoft’ Be A Winner?

For the last two years, TikTok has been in the public eye for all sorts of reasons. First, it was the exploded and unparalleled...

Facebook Subscription Model: Looking Beyond Ad Dollars?

Seldom do job listings create a stir this gripping. However, when the job listing in question is a stealth post from Twitter, with a...

Will The Online Food Delivery Market in India End Up Becoming A Two-Horse Race?

It's pretty much evident that the food delivery space in India is all set to get riled up soon enough as one of the...

More Articles Like This