So let me get this straight: the delay in the new BlackBerry 10 OS, the one that is supposed to turn the company around, is good for the company?
That is what RIM's new CEO, Thorsten Heins, stated at the annual company meeting on Tuesday. In addition to wanting to get the device right, he said that pushing the release date was good because that will mean less competition over the xmas holiday.
At this point in listening to Thorsten Heins speak, I slapped my forehead. There is just so much wrong with what was and was not said. It makes you question that validity of the statements.
First, I don't get how missing the holiday season, and the billions of dollars consumers spend can be a good thing. The reality is that RIM needs cash. Without an influx it will have no way to produce, market and deliver the new device. Never mind that more iPhone and Android devices will have taken what few non-corporate consumers were left to Blackberry.
Second, there was no mention of the sale of the company. No mention of what options JP Morgan may have discovered, or put on the table. No mention of new applications which are sorely lacking for this device. And no mention of what will happen if the device is a non-starter.
It appears to me that RIM is simply buying time.
They need time to get a product in a ready state. Time to get a partner to invest in the 'potential' future. And time to continue to unwind the company. That is what I heard, never mind what was said.
The stock price dropped 5% after the conference endedaccording to Reuters. The article touted all of RIM's accomplishments, but failed to ask, "what have you done for me lately?"
There is a general consensus that, at this juncture, the only thing that is holding RIM afloat are the corporate users. And according to CNNMoney, “it's not just consumers that are abandoning RIM's QWERTY devices in favor of iPhones and Android smartphones. A growing number of corporate customers are ditching RIM for so-called "bring your own device" programs that let employees use their smartphone of choice at work.”
Vowing to return RIM into a “lean, mean, hunting machine”, are the words of someone who is not quite telling us what is really going on. Only time will tell.
What do you think? Talk Back and Let Me Know.