RIM CEO: ‘There’s Nothing Wrong With the Company’; RIM VP: ‘We’re Not Delusional’


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.

Here is a scene from their only U.S. retail store in Detroit, looking pretty lonely (via Daring Fireball):

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?


  • FragilityG4

    They trade in two half baked CEO’s for one delusional CEO … I thought Germans were the smart ones when it comes to business … I guess he’s really Greek.

  • Gtasscarlo

    Rip rim

  • LOL

  • I’m pouring out a little liquor for the company as we speak.

  • Blah

    Isn’t that what the Syrian government also says? “there’s nothing wrong”?

  • RaphaelNinjaTurtle

    Don’t waste liquor. Pour out Olde English or something

  • Good call. Will ensure bottle is in a paper bag while I’m walking the streets.

  • RaphaelNinjaTurtle

    Be bold about it.

  • OMG, is this guy for real?! You know, this is why (if it weren’t for the hard working people in this company) I’d really like to see RIM fall flat in their ass. This is the same arrogant and pompous attitude that got them where they are today. A COMPLETE FAILURE.

    Does Mr. Heins really know how his company is doing lately. Seriously, has he picked up a newspaper lately or was he in that earnings report last week? It’s all fine and dandy for him to say this cuz when the company fails and everyone is out of a job, do you really think h’ell be hurting for money? I seriously doubt it.

    I hope the workers there don’t fall for this smoke and mirrors and really read the writing on the walls and get out as fast as they can. RIM is a sinking ship and after an article like this, I feel even more than before they’re doomed.

  • +1 (golf clap).

    The VP saying they are ‘not delusional’ almost had me spit out my coffee.

  • JMCD23

    They hired some very good ‘yes men’ that would get you a fresh coffee. Seriously this is what they had to have done, just hire ‘yes men’.

  • Fruit fan

    Something must be up as the CEO is shopping for 5+ million dollar homes. An agent I know recently showed their property to him.

  • All we can do now is grab some popcorn, sit back and watch the show.

  • excaliburca

    I only have one thing to say: Apple in the 1990s.

  • excaliburca

    One thing to say about that: Apple in the 1990s.

    Also remember Nortel was huge, and RIM was also at one time. Apple may be big now, but there’s nothing to say something(s) couldn’t happen that could make Apple eventually tank. Don’t be so quick to gloat at another company’s demise: your favoured son could go bankrupt too.

  • Had no intention to gloat, but when these RIM executives fail to grasp reality and spew this junk, it implies RIM thinks we are stupid to believe them.

    At least when Apple was in trouble and bleeding, they admitted it and acknowledged it. They didn’t tell people everything was fine and dandy.

  • nosnoop

    I still can’t understand this site’s obsession with RIM’s bad news.

    What does this have anything to do with news for iPhone, may I ask?

  • Did you even bother reading the end of the article? RIM’s demise is their inability to react to new players, in particular the iPhone. It’s disruption. and it’s happening in our backyard.

  • As a Canadian, I feel sad to see RIM disappear. I remember having to carry a BB handset for a short time at work for a business trip. I hated every minute. It was so clumsy and slow.

    I also feel sad for the hardworking folks there who are hampered by leadership who cannot see the forest for the trees.

  • larson

    Can we have the whole article for us to read instead of just part of a sentence?

  • Sources are noted above in the article.

  • caulfield

    not sure if it’s intentional on your part but its pretty naive of you (and other people) to think that RIM would say anything else otherwise. Of course RIM executives know the reality (that its pretty bleak) but that doesn’t mean they will come right out and say it. They have shareholders who trust that their executives will do whatever to keep the company running…or at least look and sound like they are. This is Public Relations 101.

  • Well yeah of course they are totally trying to calm their customers and investors. But it just sounds ridiculous given the grave situation they’re in. They should stop trying to talk their way out (which is something they have always done; ie the overhyped PlayBook) and just release some great products–soon.

  • Megamancito

    So true Gary. I have seen this since day 1. That CEO is seriously smoking some heavy stuff there. Customers don’t wanna hear “there’s nothing wrong with RIM” that’s what he said when he started 6 months ago, and is now contradicting himself. People wanna hear solutions, plans and actions. People are very loyal to good brands, but when they try to hide their weaknesses with “dilussional” talk, man, that just breaks their trust in the brand.