RIM Shares Drop 18 Percent

If things aren’t already looking bad enough for RIM, the makers of the quickly dying Blackberry, the company’s shares have dropped almost 18 percent at the time of publishing this article. This brings their stock price to a mere $7.50, an all time low for RIM. This drop comes as a result of recent layoffs and a delay in the launch of their new mobile, the Blackberry 10. Blackberry 10 is supposed to bring a new keyboard, hardware and revamped BBM client to the Blackberry line of phones. And while this software was supposed to launch by the end of 2012, it is now delayed into the first quarter of 2013.

Because of this sudden loss, Matt Thornton, a well respected analyst at Avian Securities LLC recently stated that “They either sell, break up the company or die”. While this may be a bit harsh on his part, I can’t help but think it’s true. With RIM currently lacking in the hardware and software department, it would be better for someone else to buy them out if not for the patents alone.

Source: WSJFinancial Post
Image Credit: juanpol

Andrew is a geek, Apple enthusiast, blogger and coffee lover from Chicago.