BlackBerry, once considered by many as the standard in durability and survivability in the mobile phone market place. Internally, we code named it the AK-47 of phones. You could drop it, kick it and abuse the heck out of it and it just worked. But, BlackBerry, like the AK-47 hasn’t kept up with modern trends. In our office, 100% of our employees have abandoned old faithful in favor of the iPhone. Our take is that RIM is dead or certainly ripe for a take over. Here are 4 reasons why.
1. Massive Market Share Decline – If you flew or were at a conference two years ago, chances are the person next to you was using a black berry. At that time according to comscore, they had almost 43% of the market, today that share is down to 19% and falling, fast.
2. Executive Flight- Executive teams can make or break a company and that is true especially in turbulent times. Now is no time for RIM employees to be wondering who is guiding their ship.
3. Stock Drop – RIMs stock has plummeted almost 70% in the last few months, this makes them ripe for a take over.
4. No Innovation- The bottom line is the competition is producing, better, faster,sexier and more functional products that consumers want.
Given the unprecedented speed at which the market place is changing, and the lack of innovation from RIM, we see a take over as imminent within the next year or the company going out of business within two.