RIM was Canada’s proud tech darling but has continued to decline in popularity and sales due to its inability to produce enticing competitive products to keep up with Apple and Google. In a recent interview with the CBC’s Metro Morning radio show, the relatively new CEO had this to say:
“There’s nothing wrong with the company as it exists right now,”
“I’m not talking about the company as I, kind of, took it over six months ago. I’m talking about the company (in the) state it’s in right now.”
Rick Costanzo, executive vice-president of global sales for RIM:
“We’re not delusional,”
“We know that we’ve got some big challenges ahead of us, but at the same time we remain optimistic about our short term prospects.”
The reason for their optimistic outlook was related to emerging international markets that continue to drive growth for the company.
Honestly, I’d like to discover the source of where these RIM executives are hiding their double rainbows–these guys are nuts. The numbers don’t lie–their stock price has hit all time lows of $7.54, they recently laid off 5000 workers and quarterly earnings announced a $513 million dollar loss, to go alongside the yet again delay of BlackBerry 10.
What has contributed to the demise of RIM? We can blame the iPhone of course. We wish them luck to recover, but when they can’t face reality and spew craziness out of their mouths, it is pretty hard to believe what they are saying. Is the end of RIM near?