Today, RIM reported its abysmal 4th quarter financials. Revenue is down 25 percent year over year. Shipments of their Blackberry phones are down 21 percent since last quarter. Things are so bad that RIM has decided to discontinue giving “specific quantitative guidance.”
That’s not all, though. RIM is looking down the barrel of a loaded gun. Jim Balsillie, ex-CEO of RIM, has resigned as director of the board. David Yach, RIM’s Software CTO, is retiring. Last, but not least, Jim Rowan, RIM’s Global Operations COO, is leaving as well. This really does look like rats abandoning a sinking ship.
As RIM continues to fail more spectacularly, we’re starting to wonder how long it will be until we’re reporting their bankruptcy. The once-dominant smartphone maker is becoming more and more irrelevant. It seems like only a matter of time until they collapse under the weight of failure, or start selling off brands to salvage anything at all. It’s not looking good for our northern neighbor.
So, what do you think of RIM’s inability to keep up? Where did they go wrong, and when should have investors started to see it? Sound off by leaving a comment below this post. All you need to do is log in with your Twitter or Facebook account, and you’re good to go. We want to hear what you’re thinking about the cluster-eff that is RIM.