It’s hard to believe that just a few years ago, shares of Research In Motion (NASDAQ:RIMM) were trading at $144. Now they are at a miserable $23.
It’s easy to point at the dominance of Apple’s (NASDAQ:AAPL) iPhone and iPad as reasons for the fall, but this is far from the whole story. The mobile industry as a whole is growing at hyperspeed, and numerous players are showing success, such as HTC, Samsung (PINK:SSNLF) and even Amazon (NASDAQ:AMZN), whose Kindle Fire is getting lots of traction.
In other words, RIM’s problems are mostly self-made. And especially lately, the company has become the Inspector Clouseau of the tech world.
The latest mega blunder was the worldwide outage of RIM’s BlackBerry service. Running a massive communications infrastructure is no easy feat, but considering RIM’s big value proposition is a claim to reliability, a three-day BlackBerry outage is unacceptable.
Unfortunately, this has been just one in a long line of serious drawbacks for the company. Here’s a look at some of the other problems that have plagued RIM:Nothing Cool
A few years ago, RIM showed with BlackBerry that it could create standout smartphones. But the latest models have not only been duds — they’ve also experienced a variety of delays.
A lack of innovation can send a tech company along a downward spiral. If your phones aren’t connecting with consumers, it gets tougher to find developers to create new apps, and carriers are more likely to focus on other phones. And since 2009, RIM’s global market share of smartphones has plunged from 20% to 11%.