Witness The Fall of BlackBerry?

Witness the fall of BlackBerry? Research In Motion has finally issued a call for help. With the business in free-fall, it makes little sense for an acquirer to answer.

Following earlier redundancies, on Friday two of RIM’s most senior executives stepped down from the struggling Company who is now believed to be looking for a buyer, a move which the Wall Street Journal claims will be a struggle.

On Saturday RIM reported a loss of $US125 million, revenue fell 25 per cent to $US4.2 billion from $US5.6 billion. Analysts were expecting $US4.5 billion.
‘We can’t do everything ourselves but we can do what we’re good at,’ RIM CEO Thorsten Heins said after announcing a major refocus for the struggling Company.

RIM has had limited success trying to enter consumer markets in recent years, and Heins said a turnaround required ‘substantial change’.
Yet that is the bet being made by the BlackBerry maker’s investors. Despite very weak financial results for the most recent quarter, shares jumped 7.1% Friday after CEO Thorsten Heins said he is willing to sell the company.

Mr. Heins has changed his tune drastically since taking over 10 weeks ago. Then, he expressed optimism about the company’s prospects, claiming a new marketing strategy could help turn RIM around. But it was always difficult …

Canadian Finance Minister Jim Flaherty said RIM “will be masters of their own universe.” but observers claim that even companies from countries with strong ties with Canada, such as Microsoft, would face scrutiny.

As part of its review, RIM itself might decide to close parts of its business to focus on its few remaining strengths, though no decisions have been made, a person familiar with the company’s thinking said.


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