Has it really been three months since Research In Motion’s last results call? It seems like only yesterday we were writing about the huge losses, massive job cuts and delays to new BlackBerry products, but today the company reminded us of its struggles and the scary figures that come with it.
Revenue had fallen 31% since last year to $2.9bn. This was a rise of 2% from the last quarter’s $2.8bn total but was the second consecutive period the company recorded a net loss – something which hadn’t occurred at RIM since 2009 before last quarter.
There were some smiles on Wall Street as the results weren’t as bad as analysts feared, actually beating some expectations by as much as 16%, but again Thorsten Heins, president and CEO of RIM, warned the rest of the year wasn’t looking any more promising.
The fact is, until RIM removes its head from its proverbial and pushes out some new products, there is nowhere for its results to go but down.
It is infuriating that the company is delaying the launch of its updated operating system – BlackBerry 10 – until next year. For all we know, it could be the greatest mobile OS alive but with Apple’s iPhone 5 hitting the shelves, Android users flocking round Samsung and Microsoft pushing all its marketing guns behind Windows Phone 8, we will all have a new handset to play with before Christmas and won’t be thinking of investing in a phone in the New Year.
The gun was already being held to RIM’s head before the delay, now it’s as if Heins has taken the Russian roulette shooter and filled all the chambers bar one, truly stacking the odds against him and his firm.
Computer Weekly should be getting a glimpse at BB10 and hopefully some new handsets in the next few weeks and as soon as we do, we will let you know if it is the superhero system to save the day for the Canadian company.
But, the longer I wait, the more I think the company is beyond saving and that stalling innovation has truly been RIM’s kryptonite.
And to think, we still have at least one more results call before BB10 launches in 2013. It won’t pleasant reading…