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RIM Shares Plummet as Company Struggles

Blackberry SupportBlackBerry lovers will be sorry to hear that Canada-based Research in Motion (RIM), the company that makes BlackBerry, continues to struggle. Once dominant in the smart phone marketplace, RIM is doing all it can just to stay afloat.

On May 30, 2012, it was announced that RIM (RIMM), which is headquartered in Waterloo, Ontario, suffered a devastating blow when the price per share of its stock dropped to $10.63. Pundits predict that RIM executives will auction off some, if not all, of the business.

Wasn’t it Robert Frost who said, “Nothing gold can stay?” That certainly seems to be the case for RIM at the moment. Repeatedly pushing back the launch date for the new BlackBerry 10 operating system didn’t help as iPhones and Androids started making headway in the market. Rumor has it that some Silicon Valley developers won’t even develop apps for BlackBerrys, opting instead to cater to the needs of iPhone and Android users.

RIM CEO Thorsten Heins admits that RIM may be down, but insists that it is definitely not out.

Despite losing millions of subscribers in North America, the debt-free company still has $2 billion at its disposal and close to 80 million remaining global subscribers. It doesn’t hurt that two of those remaining subscribers happen to be President Barack Obama and homemaking guru Martha Stewart.

Time will tell whether or not the new BlackBerry 10 operating system can save RIM from going out of business. Androids and iPhones continue to grow in popularity, making it unlikely that RIM will regain its former status.

No matter what happens with RIM, we are here to help you with all your mobility needs.  Call our help desk today to learn more about how we can help you with BlackBerry, iPhone or Android.

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