Thursday, March 29, 2012

Balls Out: RIM Ex Co-CEO Bails Before 4Q Fiscal 2012 Earnings Announcement

(Photo via wallpapersgalaxy.com)
So much for the Captain going down with the ship. In true Schettino fashion, Balsillie retired from the company he helped to create as it continues to experience its fall from grace. Additionally, Newly minted CEO Heins cleaned up his shop, so we can all say goodbye to the current CTO and COO along with a handful of SVPs and VPs. Keeping with this theme, RIM bid adieu to their profits in the 4th quarter to the tune of a 125 million dollar loss. All in all, a shitty start for Heins who inherited a mess.

Everything comes down to BlackBerry 10, which is slated to hit the market later in 2012. So we're looking at 3 quarters of stale products before the next gen phone comes out (BTW RIM shipped 21% less Blackberrys in the last quarter of their fiscal year. Not good.). I really hope that any new phones they release between now and then will be compatible with the new OS (we all know this is not gonna happen).

RIM is betting the Waterloo on BB 10 and it better pay off. Or else you might buy your Samsung BlackBerry very soon.

-Paqman

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