Hey RIM, the Internet called; it thinks you're doomed
BlackBerry maker's dismal earnings, BB10 delay spark Internet firestorm of scorn, false hope
I've been writing in this blog about the rapid demise of Research in Motion for almost two years now -- here, here, and here are but a few examples -- and the truth is I've run out of words to describe this ongoing tale of tech tragedy.
So I'm crowd-sourcing my reaction to RIM's atrocious fiscal 2013 first-quarter earnings, in which the Canadian BlackBerry maker reported a loss of $518 million, a 43% decline in revenue from the year-ago quarter, and -- this one is the killer, yet it was so, so predictable -- a delay in the launch of the vaunted, company-saving BlackBerry 10 until early next year. Because I give up.
Comments from Wall Street Journal readers:
RIMM is the corporate equivalent of the undead. Would someone find some semblance of decency and put a stop to its teetering with a well-aimed sliver stake?
If they lost a half.billion this past quarter and they have $2 billion in cash, they have no more than 4 quarters at the current burn. The delay in their next product will cause all hopeful fence-sitters to jump off the fence into RIM's competitors' back yards. That will suppress revenues further.
I’ve been short for quite some time – this is why. Likely to get worse from here. No prospective buyers, old technology from the pager era.
From Globe and Mail readers:
A sad, sad story. It's really too bad for the Waterloo region, and for Canada in general.
I am so disappointed and angry right now. The only thing RIM had to do was launch the Phone on TIME. I have little confidence now and this pains me as I am one of the biggest supporters.
RIM's only escape is monetize their back bone and enter the cloud service market, be it virtualization, storage, or whatever.
If RIM gets bought by a respectable tech firm, like Microsoft, chances are those folks see the value of what they are getting. Ultimately, being sold is a good thing for RIM.
And finally, from that repository of infinite, 140-characters-or-less wisdom:
"Somebody has to save RIM. I can cope with losing anything, but not my Blackberry." -- Piers Morgan
"RIM have 2 options. 1. Bankrupt 2. Stay in game with MS for a while and go bankrupt. Thorsten closed all kind of r&d. No future."
"me: lol rim is doomed. people: no, blackberry 10 looks great! they’ll recover! hi haters."
Sadly for that last Twitterer, we have passed the point with RIM where eternal optimism becomes delusion. It's sad to witness.