“BlackBerry has had a rough of 2013, to put it mildly. The company has lost billions in market cap, it has [another] new CEO, and there’s speculation seemingly everyday about what the company can do to save itself, or even if can be saved at all,” Chris Ciaccia writes for BGR.
“BlackBerry is scheduled to report fiscal third-quarter earnings before the market open on Friday, and no one is expecting much, if anything, in CEO John Chen’s first foray with investors and analysts,” Ciaccia reports. “Societe Generale analyst Andy Perkins, who rates shares hold with a $6 price target, notes the situation has gotten worse since BlackBerry last reported, due to the failed acquisition by Fairfax Financial, and a continued loss of market share.”
“‘Under these circumstances, we consider it unlikely that the company will be able to continue in its current form,’ Perkins wrote in his note,” Ciaccia reports. “With all of the distractions going on around the company and uncertainty swirling like a funnel cloud, subscribers and corporations have been leaving BlackBerry in droves.”
Read more in the full article here.
MacDailyNews Take: Death spiral.
Related articles:
Obama stuck with BlackBerry, says not allowed an iPhone ‘for security reasons’ – December 5, 2013
Beleaguered BlackBerry CEO: ‘We are here to stay’ – December 2, 2013
Three execs ousted from beleaguered BlackBerry as new CEO tries to salvage what’s left of company – November 25, 2013
Pfizer dumps beleaguered BlackBerry phones for Apple iPhone, Android phones due to company’s ‘volatile state’ – November 15, 2013
Beleaguered BlackBerry plunges after sale to Fairfax falls through; CEO Heins out – November 4, 2013
Death spiral might be normal for a bad tech company, but BB is worse as it is a vertical Death Plunge.
RIM was watching the same SJ keynote in 2007 that the Google Android crew was watching, when everyone went “Oh shit” as reported in an earlier article today.
Google immediately shifted focus. RIM did not.
End of story.
Amateur hour. Reminds me of end of The Hunt For Red October, “you killed us you arrogant ass”!
RIM couldn’t shift. Not with billions of reasons holding them back, in the form of corporate and government interests that RIM remain unchanged, regardless of market fancies.
They couldn’t imagine any other company producing a device capable of being wiped remotely, a feature critical to safeguarding States’ secrets and corporate knowledge, gave Apple just such an edge over its competitors as can be seen in Congresses latest attempt to intimidate the market into moving towards a universally accepted “kill switch”, in favor of consumers.
Like the compulsory seat belt laws, the remote wipe should be in not just our phones, but cars as well.
There was absolutely no reason that BB could not adapt the user end of their platform. The corporate and government interests only cared about BB Enterprise Server and BB’s back end as it related to email/data security. Those factors have nothing to do with the interface on user’s device.
BB didn’t see the consumer preference shift until late in the game, and they then compounded their problems by screwing up the BB10 rollout so it got to market years too late.
BB is the device. RIM is the company. Subtle difference, I know but Google it and see for yourself.
With a grasp of the current situation like that, this analyst must clearly be pulling down $300k/year +.
I had that same thought.
But he has come to that conclusion NOW! He is clearly clairvoyant.
What a brilliant and eye opening article, who would have thought that BB was in trouble, damn journalists
Unlikely that analysts will be able to milk this fossilising cow any longer. They will of necessity turn back to the latest grim revelations of Apple and Google machinations, though Microsoft is still good for another deathwatch story or two.
This was still a question. Come on, rooting for BB at this point is like betting on a Washington Generals comeback.
An analyst says it. It must be true!