Research in motion, the innovators of the first ever smartphone, have been steadily spiraling into bankruptcy. On Feb 17th 2011, Rim was at an all-time company high with each share worth $68.92. Today however, it has plummeted to $8.06. Rim used to dominate the smartphone market and control consumer taste, but now they lie in the shadows of Apples Iphone and Samsung’s galaxy. However, there may be a shed of light at the end of the tunnel for Blackberries Research in Motion. With speculation over their new product, Blackberry 10, people seem to be a bit more optimistic about Rims future. Many investors believe that this product may be the final chance for Research in Motion to make a healthy recovery from the devastating past year. The prototype has been successfully marketed so far. As a result, Rim has experienced a small increase in stock price strictly based on speculation over the new product due to be released early next year. Speaking as a part owner of Research in Motion, I hope that the company will make a comeback in the smartphone market, and that Blackberry 10 will be a big hit with consumers.
“In the big picture, nobody, not even RIM knows whether this is going to work for them,” Charter Equity Research analyst Ed Snyder.
http://www.canoe.ca/Canoe/Money/News/2012/09/28/20243526.html