Research in Motion: still spiralling
Research In Motion Ltd.’s CEO Thorsten Heins did not try to ease the minds of RIM shareholders this week. Instead, he reached out to the average RIM customer, in an effort to assure consumers that a Blackberry is a reliable product that will continue to have value in the future. But in light of plunging stock values, massive layoffs and the delayed release of the Blackberry 10, the public remains skeptical.
Thorsten Heins, president and CEO of Research In Motion, the company that makes BlackBerry, delivers the keynote speech during the BlackBerry World conference, Tuesday, May 1, 2012, in Orlando Fla. (AP Photo/Reinhold Matay)
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Research In Motion Ltd.’s CEO Thorsten Heins did not try to ease the minds of RIM shareholders this week. Instead, he reached out to the average RIM customer, in an effort to assure consumers that a Blackberry is a reliable product that will continue to have value in the future. But in light of plunging stock values, massive layoffs and the delayed release of the Blackberry 10, the public remains skeptical.
On Tuesday morning, Rick Costanzo, RIM’s executive vice-president of global sales, told the Financial Post that RIM acknowledges the sales decline in the U.S and Canada, but hope to make up the difference by reaching a broader global market.
Earlier this week, Heins went on to the CBC’s Metro Morning, and asserted that RIM is not “in a death spiral.” This quote was picked up by papers around the world including the New York Times, the Manchester Guardian and the Brisbane Times, and it would seem that the words “RIM” and “death spiral” have struck a chord around the world.