Blackberry launched the Blackberry Z10 and Q10
The stocks of Blackberry Ltd has hit a low of 7.75 this year. In contrast, Apple, one of Blackberry’s major competitors, have hit highs of 674.25.
When Thorsten Heins took over as C.E.O. in 2012, he admitted Blackberry was a year behind. RIM prided themselves on their sense of durability and security for government and corporate clients. However, attempting to entice Blackberry customers, Samsung introduced high-level security features and physical keyboards. To remain a major competitor, Blackberry must alter their products to fit the wants of the consumers, such as higher quality apps. However, is it too late?
Last Friday, RIM broadcasted tragic financial results. The company reported a quarterly loss of $965 million; $934 million from unwanted inventory of the Blackberry Z10 phones, and $72 million in layoff charges. This is surprising as it was once the chosen cell phone of President Barack Obama and Queen Elizabeth. The company’s largest shareholder, Fairfax Financial, has offered to buy-out the company. However, analysts believe Blackberries will be relics no matter the owner. If business continues in this direction, it will only be a matter of time until the final Blackberry user gives up their beloved keyboard.