Once one of Canada’s most prominent companies RIM, now Blackberry, has faced yet another grim statistic within the last quarter. Already this year, with the fall of the Black Berry stock, making the company go private, the company has been facing financial hardship. It was released today, from market research firm IDC, BlackBerry’s global share of the of smartphone market in the third quarter this year has dropped to only 1.7% compared to last years third quarter 4.1%, a change in 41%. While Black Berry has decreased, Google has took a lead on global share, now holding 81% of all smartphones around the world, an increase in 51% from the same time last year.
One of the ideas in which we learned to create a company through entrepreneurship is the method of Lean-Start up. This is different from a regular start up company, as the product or service which the firm provides, adapts and changes with the customers wants. This is one problem Black Berry did not realize. Blackberry’s distinction on their phones was their keyboard, something in which phones companies moved away from to go to touch screen. Because Blackberry did not adapt to customers’ wants, and retained upon a product which did not change, they had lost many loyal customers, demand, and brand image, resulting in their downfall.