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Things are getting dire for RIM, which diffidently announced its new BlackBerry 10 platform earlier this month to an internet full of aggressive disinterest. The latest grim tiding? Trading has been halted on RIM’s stock—which is a very bad sign—on the heels of news that its stash of unsold BlackBerry phones and PlayBook tablets has ballooned to a value of just over $1 billion.
RIM is hiring JP Morgan and RBC to “explore options,” which probably means looking for ways to get out from under its mountain of unsold product and obligations, or more drastically, preparing to sell itself, in whole or in parts. Not a great sign, especially since we still don’t really know when to expect BlackBerry 10.
The world’s total refusal to buy current BlackBerry products, along with its absolute nonchalance toward the upcoming BB10 stuff puts RIM in a tough spot. It can downplay its already struggling update and try to convince buyers to buy up the older stock, or it can just eat the massive loss and sing the praises of BB10 and its QNX-based platform.
We’ll let you know as more news comes out of RIM, but for now, things don’t look great. [Bloomberg via Apple Insider, Business Insider]
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I’d buy one if they ran Android and knocked their prices down by a couple hundred.
My thoughts exactly! I reckon RIM can take on HTC and beat them.
RIM’s hardware running Android coupled with their backend security for messaging and email. I’m sold.
My thoughts exactly! RIM’s hardware running Android coupled with their backend security for messaging and email. I’m sold.
Argh, trying to post on the morning train commute with cellular signal coming and going; hate it when that happens!
I disagree, Blackberries hardware is most of the problem. It’s outdated and badly built.
I think the best asset Blackberry currently have is their server software. They need to open that upto other OS’s. As for Blackberry OS if they are to save it then they need to license it to others, even then I think it’s a losing battle.
I think Blackberry have a very small window in which to save themselves. I said it before and I still think I’m right, that in a couple of years time we’ll see Blackberry being sold to someone, just so they can pickup their patents. It’s a sad world without Blackberry, and I don’t want it to happen.
I haven’t personally owned a Blackberry but my HTC Desire is right up there with the worst made phones I’ve owned; my Blackberry friends on the other hand swear by their handsets, their keyboards, etc.
I agree though that their best asset is the server software, which is why I think they have a potential winner if they coupled their back-end with Android. I would buy one of those over HTC and Samsung any time.
LOL, I’m the complete oposite. I went from a Blackberry to the first HTC Desire. I will not go back to Blackberry after the Desire, it’s not perfect but it’s light years ahead of any Blackberry I’ve used.
Lol, another proof that arguing about which is the best handset is utterly pointless. I hated the Desire so much (screen not accurate enough, lag, no updates, abysmal battery from the go, etc) that I went and got a 4S. Unfortunately, the Desire is still under contract and for a few more months. I can’t see how a Blackberry could be any worse
Blackberry is much worse, really bad.
I ended up rooting my desire and put a stock android on it, no problems with lag, screen etc. Battery life is still poor.
I find Windows phone better than the lot these days. If this could be plugged into the Blackberry services, it would be perfect.
I can’t see a way back for them
Maybe facebook can buy them and work themselves into the hardware market as an earlier news post suggested they were planning?
You know thats not an entirely crazy idea
Facebook is uncool, Blackberry is uncool. But with their powers combined, they could make a social networking powerhouse
Not that Facebook would let them keep BBM of course
I think you just got me my star <3
I was thinking they might use BBM and merge it into a slightly better FBM.
“RIM is hiring JP Morgan…”
JP Morgan.
Well. That should inspire everyone to heave a sigh of relief.
Indeed. I would advise any creditors of RIM to get their money ASAP. Should they go into administration the fees that J.P. Morgan charge mean you’ll be lucky to see a penny of it.