Canadian company Blackberry recently announced the results of their 2nd quarter, revealing losses totaling almost $1 billion. As the company continues to consider options on how to end their constant loss of revenue, talks of selling Blackberry or making the company private have arisen amongst shareholders of this sinking ship. It’s hard to believe that just 5 years ago, Blackberry’s stock was valued at $145.50 a share, compared to the now slimming figure of $9.08. But how could this company go straight from the top to the bottom in less than 5 years? It is clear that lack of research and development within the company and poor management put this company on a free fall which may not be reversible.

Despite Blackberry’s best efforts of replacing CEOs Jim Balsillie and Mike Lazaridis with Thorsten Heins, consumers appear to be less interested in Blackberry smart phones because of their inert technology and concerns of the companies life line. This problem may not be unique to just Blackberry as technology continues to move quickly and the saturation of the world wide demand for smart phones becomes a reality. It appears that smart phone companies, like Samsung, who have production in multiple markets may fair better during these turbulent times. As the technology industry continues to develop, companies in this market face daily concerns on how to stay ahead of competitors and maintain a strong and reliable brand for consumers worldwide.

Video: CBC News: Blackberry’s Free Fall

CBC News: Business; Blackberry Losses $965M in 2nd Quarter; http://www.cbc.ca/news/business/blackberry-loses-965m-in-2nd-quarter-1.1870447