RIM Plans to Start BlackBerry 10 Rollout in January |
| Bloomberg - Jul 10, 2012 |
Research In Motion Ltd. (RIM) shares fell more than 5 percent for a second straight day after Chief Executive Officer Thorsten Heins struggled to reassure shareholders who gathered today at the company’s annual meeting.
Heins faced combative questions from investors, who have seen the stock lose about 95 percent of its value since peaking in 2008. RIM has failed to keep up with Apple Inc. (AAPL) and Google Inc. (GOOG), and the release of its new BlackBerry 10 operating system -- a linchpin of its comeback plan -- has been delayed twice.
Thorsten Heins, chief executive officer of Research In Motion Ltd. (RIM), pauses while speaking at the company's annual shareholders meeting in Waterloo on July 10, 2012. Photographer: Brent Lewin/Bloomberg
“I want to assure you I am not satisfied with the performance of the company over the past year,” Heins said at the meeting. “We are working around the clock to successfully complete the transition path that we are on.”
RIM, playing catch-up with Apple’s iPhone and smartphones that run on Google’s Android platform, is racing to get the revamped BlackBerry 10 into consumers’ hands. RIM’s share of the global smartphone industry fell by more than half to 6.4 percent in the first quarter, according to IDC. Android jumped to 59 percent, while Apple accounted for 23 percent.
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- Posted: 2012-07-10 12:54:52
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