RIM is Done Essay -- Business, Technology

Research In Motion (RIM) is a Canadian multinational telecommunications company headquartered in Waterloo, Ontario, Canada, that designs, manufactures and markets wireless solutions for the worldwide mobile and tele-communications market. They are mostly known for making the BlackBerry brand. When the BlackBerry was invented during the early 2000’s it was a huge hit. When 2011 came along, things starting to go downhill for RIM. Over the course of the year, they have lost more than 75% of their stock value. This caused a decline in investor’s confidence. However, they would have to deal with competition from Apple, faulty devices like Playbook turned consumers off, and frequent job cuts. If these points do not get dealt within the next 5 years they will declare bankruptcy and will cause a major impact in the cellphone industry. Competition from Apple is taking away potential sales from RIM. However, it is one of the few problems they must deal with in order for them stay in business. Apple is just one of the few competitors for RIM. On October 12th, Apple released the new iMessage and its new iPhone 4S and while that was happening, RIM was facing a worldwide outage that affected millions of people. People that were using the BlackBerry were sick, and tried having to deal with frequent outages, and decided to switch to the iPhone. That is another reason why competitors like Apple are doing a lot better because of selection. Rim’s phones are out-dated compared to those other firms’. Consumers have more choices today, and in many cases, the alternatives are superior. The BlackBerry has a single-core chip inside with a 640x480 screen, compared to the Apple, which has two-cores and 640x960 screens. On March 11th 2011, Apple release... ...ada – CBC News, December 15, 2011 RIM looking anemic: Revenues down, more job cuts on the way, PlayBook sales negligible, September 15, 2011 RIM stocks drop 23 per cent after BlackBerry maker reports poor Q2 performance – Global News, September 16, 2011 RIM timeline – theSpec.com, January 23, 2012 Exclusive: Amazon weighed buying RIM, interest cooled – Yahoo! Finance, January 12, 2012 Is Lazaridis/Balsillie exit enough to save RIM? – Yahoo! Finance, January 23, 2012 Rim’s Chances For A Successful 2012: About Zero – BYTE, January 03, 2012 Rim’s Chances For A Successful 2012: About Zero – BYTE, January 03, 2012 RIM stock declines 8.4% following CEO step-down – Fudzilla, January 23, 2012 Ten things RIM's new CEO must do right away – CNET News, January 23, 2012 Microsoft, Nokia Reportedly Considering Rim Buyout – HotHardware, January 12, 2012