Nothing is Wrong with Research In Motion Says CEO (RIMM)

PUBLISHED: 04 Jul 2012 @ 06:28 | Comments (0) | More info about Ed Liston

It would be an understatement to say that BlackBerry maker Research In Motion Limited (NASDAQ:RIMM) is struggling. The Canada-based company has seen declining market share, delay in product launches, and worsening financial performance. But, Thorsten Heins, CEO of RIMM, still insists that nothing is wrong with the company.

Heins acknowledged the fact that RIMM is facing very big challenges; however, he said that the company would emerge successfully from its transition.

Last week, Research In Motion had announced that it is delaying the launch of BlackBerry 10. The company also reported an operating loss for the first time in eight years and said that it would layoff 5,000 employees.

The delay is being seen by many analysts as a huge setback for RIMM. The company’s stock, which was trading above $147 in mid-2008, is now trading at $7.35. The stock has tumbled nearly 50% this year.

Heins, who replaced founder Mike Lazaridis and Jim Balsillie as RIMM’s CEO in January this year, is still positive about the company’s prospects. Speaking on Canadian Broadcasting Corp.’s Metro Morning radio show, he said there is nothing wrong with RIMM as it exists right now. In an opinion piece in the Globe and Mail Newspaper, Heins wrote that RIMM is a company at the beginning of a transition that he expects will once again change the way people communicate.

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