Troubled mobile phone outfit RIM is finding that things are getting dire.
Suffering from falling profits, fleeing staff, a lack of ideas, no decent products to stick out, it seems that RIM’s woes could not get any worse. However it turns out that they can and have.
Apparently billion dollars of BlackBerries and PlayBooks sit unsold and unloved in RIM’s warehouse and the company has been forced to pause trading its shares.
Punters who love the company are waiting for the Blackberry 10 while those who think RIM is pants want something much better for their dosh.
RIM failed to interest many in its new BlackBerry 10 platform when it showed it to developers earlier this month.
Now trading has been halted on RIM’s stock—which is a very bad sign—on the heels of news that its unsold BlackBerry phones and PlayBook tablets have ballooned to a value of just over $1 billion.
RIM has asked JP Morgan to “explore options” which means that it might be looking to sell itself off. There is a rumour that Facebook might be interested in creating a social notworking phone with the company, but then Zuckerberg’s empire is also suffering at the hands of shareholders. Linking his outfit to a fading star like RIM might be the kiss of death for Facebook.
RIM’s press release states that it’s looking to “leverage the BlackBerry platform through partnerships, licensing opportunities and strategic business model alternatives.”
This could mean anything. Once a company starts using works like leverage and partnerships it is usually stuffed for ideas.
As yet no one knows when to expect the Blackberry 10 either.