Turn out the lights, the party’s ove...
Research in Motion is really charging on all cylinders. Unfortunately it’s racing down a steep hill, heading towards a cliff, and someone has disconnected the brakes. RIM announced dismal earnings yesterday, and its newest (and possibly last ever) product the BlackBerry 10 is going to be delayed. The announcement comes amid a flurry of what seem to be last ditch efforts to try to save the company. Management shake-ups, talk of splitting the company in two, software licensing, new designs... none of it seems to be able to help the company reverse its course. The Wall Street Journal adds,
“after yesterday’s bomb of an earnings report, the handwriting is on the wall for this tech pioneer: a sale or break-up may be the only way out.” Bloomberg runs down the dismal numbers:
RIM reported a first-quarter loss yesterday of 37 cents a share, excluding some items, more than five times bigger than what analysts had predicted. Sales tumbled 43 percent to $2.8 billion, missing a prediction of $3.05 billion, and the company said it would cut 5,000 jobs.
Is there an tech-equivilent to dumping a little beer out to honor somebody’s memory? Hold down CTR+ALT+DEL for a minute of silence? Flick a microchip? Toss a Mountain Dew? Whatever the gesture, it’s just about time.