Down down, deeper and down
Troubled Blackberry maker, Research in Motion, releases its latest quarterly results this week amid further signs that it is in an uncontrollable nosedive. RIM dropped 6.5 percent to $6.46 at close of trading in New York on Friday [21st September 2012], the most it has done since June, as its reputation was further battered by a three hour outage across Europe that day. It was the second time it has happened in the past year and came, ironically, the same day as Apple debuted its new iPhone 5 across the globe to record sales.The Canadian phone maker, which has 78 million subscribers but has seen its market share shrink, suffered an almost identical outage last October that left millions of angry BlackBerry users across five continents without email, instant messaging or browsing.
Its shares have sunk close to their lowest level in nine years and though CEO Thorsten Heins has since apologised for the disruption, it does not auger well for the future of a company that is already struggling for survival against the duopoly of Apple and Korea’s Samsung.
The company is hoping for more positive news to come out of its annual BlackBerry developer conference also being held this week in San Jose, California, where Heins is expected to discuss RIM’s new BlackBerry 10 phones, due out early next year [2013].
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