“Research In Motion is losing market share much faster than expected to rivals Apple and Google, amid mounting concerns over its cash flow and ability to meet its outlook, analysts warned on Friday,” Tenzin Pema reports for Reuters.
MacDailyNews Take: ‘Twas completely expected here, thanks.
“Shares of RIM tumbled 22 percent in Frankfurt trading. In the United States, the BlackBerry maker’s shares were down 20 percent in thin early pre-market trading,” Pema reports. “On Thursday, the company posted a sharp drop in quarterly profit, painted a dismal picture for the current quarter and said it now expects to reach only the lower end of an already reduced full-year outlook.”
Pema reports, “The weak performance showed how much BlackBerry — once a byword for corporate communication — has lost favor as Apple’s iPhone and devices running Google’s Android software take greater market share, especially in the United States.”
MacDailyNews Take: They always mention Android, but what kind of company standardizes on an insecure, fragmented clone (Android) that’s subject to tens of patent infringement lawsuits around the world instead of the real thing? A company with a flawed decision-making process, that’s what kind.
“RIM’s management remains in ‘blatant denial,’ said Sanford C. Bernstein analyst Pierre Ferragu, who believes the company’s outlook for the third quarter and the full year appears ‘unrealistic,'” Pema reports. “Co-Chief Executive Mike Lazaridis, in a conference call after the results, said he was confident that RIM was on track to return to growth in the third quarter, while co-CEO Jim Balsillie promised a software upgrade he dubbed PlayBook 2.0.”
MacDailyNews Take: As we just wrote yesterday, DCW Research In Motion’s half-CEOs and other “management” are delusional, lying, or both, or perhaps something else entirely.
Pema reports, “National Bank Financial analyst Kris Thompson called the PlayBook ‘nothing short of a disaster’ and said RIM now needs to spend money to promote the PlayBook in order to move inventory… He downgraded RIM to ‘underperform’ from ‘sector perform.’ Citigroup analysts Jim Suva and Kevin Dennean… reiterated their ‘sell’ rating on the stock. Brokerages Susquehanna, CIBC and Raymond James also cut their price targets on the stock.”
MacDailyNews Take: Amateur hour’s end is nigh.
Read more in the full article here.
MacDailyNews Take: We give RIM a “Fsck the ambulance, call a hearse” rating.
Related article:
Beleaguered RIM reports precipitous drop in quarterly profit, weak sales; stock plummets – September 15, 2011
The stock’s taking a drubbing. As of 9am EST it was down 23%to $22.63 in pre-market trading. Where’s Mr. Ballsy now?
Fsck the hearse, call the creamatorium.
Already in flames; bring in the urn.
And that, folks, is what is known on Wall Street as an urnings call…
Skip the urn, bring a bucket. Those ashes will be useful for gritting an icy Canadian sidewalk.
The Playbook’s dead. If enterprise isn’t already using the iPad they’ll probably wait for Windows 8 tablets.
But people want real, physical keyboards!
Fans, don’t forget fans. People want those in tablets.
And Flash. Ya gotta have Flash!
=:~)
The lesson here isn’t so much of what’s happening to RIM but what will happen to many of Apple competition, currently flying high in delusional space, in a short few years.
Less than 3 years ago, RIMM too was flying all time high (around $150/share) with accompanying chest thumping battle cries. I’m looking straight at you, Google and your open army. We’ll see you guys in couple of years.
These numbers are an absolute disaster for RIMM. You can officially put them on the death watch list now, they’re well past the point of simply being beleaguered. They’re going to be at the bottom of the lake next to WebOS in less than a year if things don’t dramatically turn around very quickly.
Do you think that on the wall in Apple’s CEO office there are mounted trophies like a great hunter would have of “The Microsoft Zune” on one plaque. Next “The HP / Palm OS Smart Phone”. Next “The HP webOS TouchPad”. Next “The RIMM BlackBerry”. Next “The RIMM PlayBook”. Next “The Microsoft OS”. Next …
The great memories that get stirred up in a trophy room.
Steve threw out the contents of the Apple Museum. He would have even less use for a trophy room.
RIM needs to concentrate on getting BES clients onto other platforms before it becomes completely irrelevant in the enterprise. This would allow them to hang onto their “bread and butter” back end while conceding client devices to competitors.
Microsoft had the foresight to do this with ActiveSync, when it became apparent that their mobile OS was failing to attract new customers.
Palm The Sequell….. Web OS meltdown HP Style… Storm 3
Really
Impressive
Monumental
Miscalculation
RUN FOREST!!!! RUN AS FAST AS YOU CAN!! SELL!
I’m having trouble typing due to all the blood on my iPad screen. Off to the Crackberry site to check out the moral. 😉
See? If they would have taken my advice and said that the iPad is not cool, their troubles would be over. The company would have turned around.
Now it’s going to turn around and around and around, as it spins down the toilet.
The graveyard of abandoned electronic communication devices is filling up so fast we are going to need federal disaster assistance to expand the capacity.
Rim Playbook Sales Meeting
http://goo.gl/MLwL5
The new competition seems to be which company or product can go down in the biggest ball of fire…