RIM shares hit 52-week low

RIM shares hit 52-week lowOh dear. It hasn’t been a very good year for RIM at all. We’ve had the BlackBerry PlayBook launching without a native email client, the recent network outage, and a constant stream of figures (of the numeric variety) painting doom and gloom.

On Thursday RIM’s shares hit a 52-week low of $18.37, which is lower than the per-share value of its patents, property, and other assets.

Various analysts are throwing in their two cents, unanimously predicting further depression for the Canadians. There’s even suggestion that RIM’s shares are heading for a single-figure value.

“Clearly, it’s now single-digit market share in the United States — soon, I think it will be single-digit worldwide,” said Veritas analyst Neeraj Monga.

“RIM needs to deliver new, fresh, exciting products to the market and increase its pace of innovation and execution if it is going to have any chance of reasserting its position in North America,” adds Tim Shepherd of Canalys. “It badly needs to deliver on its potential with its new BBX platform.”

Richard Fogler of Kingwest & Co says: “The market, at book value, seems to be saying not only is RIM going to not get bigger in the future, but it’s actually going to shrink. Everyone’s frightened of what’s going to keep happening tomorrow.”

That really is quite depressing. Anyone know any good jokes?

via: BloombergAllThingsD

Read more about: Blackberry OS

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8 comments

JanSt / MOD  Nov. 4, 2011 at 12:40

The Blackberry Bold 9900 is a great device. The should have launched it at a more competitive price. Nokia's (inferior) E6 pretty much flopped, and it was 25-30% cheaper.
Anyhoo...shame. We need choice, competition and variety. There's space for BBs and Symbian.

Julias  Nov. 4, 2011 at 12:51

BB's USP has always been its platform and BB IM otherwise its a pretty mediocre smartphone with unappealing hardware they have failed to innovate and the corporate world which RIM thrives in beginning to lose interest and are already looking at alternatives which isn't a good sign.

JanSt / MOD  Nov. 4, 2011 at 13:10

Julias, I kind of agree. But the Bold 9900 is probably one of the finest pieces of hardware ever.

Jon122  Nov. 4, 2011 at 14:29

PlayBook rocks. I love the interface. One of my biggest hesitations was the smaller screen. But once you've had a 7" mobile device, you'd never want a 10" device again (you'd want a netbook if you were going to drag something big around). You can easily browse the internet, read pdfs and books, check and respond to email etc. It's a fantastic device. Now only if developers would build some more high-quality apps for it - but regardless, RIM did a fantastic job with this device.

Julias  Nov. 4, 2011 at 15:14

And to make things worse Groupon is now worth more than RIM.
http://blogs.wsj.com/deals/2011/11/04/groupon-ipo-up-40-out-of-the-gate/

JanSt / MOD  Nov. 4, 2011 at 16:13

Oh my god.
Julias, that muat have been mentioned in the Mayan calandar and Revelations, no?

Julias  Nov. 4, 2011 at 16:47

Well no but thought it was a mention.

Julias  Nov. 4, 2011 at 16:47

Well no but thought it was worth a mention.

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