We recently gave you a report about how RIM were losing market share to the likes of Apple and Android in the smartphone market. Apple has also been targeting RIM business users with a recent ad campaign. Now we have news that RIM is to launch several smartphones with a new OS as part of the company’s turnaround.
RIMs Jim Balsillie has said the company is looking to release seven new smartphones which will run its next generation operating system, and be available in the coming months according to an article on guardian.co.uk. But he did admit to hit that target the company faces some challenges.
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He was speaking at the company’s annual meeting and said there had been delays in getting the new OS available. He also stated that the new handsets would enable RIM to keep on track and meet its financial guidance for the year.
Many have wondered if RIM could meet its full year targets after seeing a drop in profits in the last quarter. The share price has also dropped over fifty percent this year, and is at its lowest point since before the iPhone launched. RIM is currently valued at $13.6 billion compared to a high of $75.2 billion in August 2008.
The delays were put down to RIMs attempts to get its smartphones satisfying the market expectations, according to Mike Lazaridis of the company. He went on to state that the new BlackBerry Bold is jumping a generation, and the delay would strengthen RIM in what he called an “arms race” in the battle with its smartphone rivals.
The company has also seen its new tablet the PlayBook suffer from poor reviews, while sales figures have yet to be released for the tablet PC. Despite recent market loses in the US the company has gained one million users in other areas such as Europe.
Shareholders are waiting to see what the company is planning next with its devices, and were criticized for its marketing efforts compared to its rivals. There has even been talk of a take over as the share price plummets, but if a hostile attempt to take over the company is made, Balsillie said it could be stopped in a “blink of an eye”.
There are still many fans of the BlackBerry platform, but unfortunately many are turning their backs in favor of rival platforms. The problems facing RIM mirrors what is going on over at Nokia at the moment. Many have already wrote both the companies off, but there is still time for both of them to come back.
Do you think RIM will turn things around?