BlackBerry’s bad week

Research In Motion, BlackBerry’s parent company had a bad week last week.

RIM’s quarterly profit dropped and it missed its revenue forecast, forcing it to slash its outlook for the future. This announcement sent its shares plummeting as investors were clearly unimpressed.

Considering BlackBerry’s widespread use in the business market and in-roads into the youth market (thanks mainly, so I’m told, to BB Messenger), it is surprising that they are failing so badly.

The problem BlackBerry faces is the fierce and innovative competition from Apple and Android. However, RIM is fighting back. They have just launched their iPad-challenging Playbook which has already shipped half a million units, so perhaps that will help to revive their fortunes. Only time will tell whether they can overcome Apple and Android’s growing hold on the mobile handset and tablet PC market.

Here at 08 Direct, we’ll be watching it with interest…

 

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