Research In Motion Limited (NASDAQ:RIMM) Needs More Than a Name Change
Five years and roughly 80% too late, Research In Motion Limited (NASDAQ:RIMM) has officially attempted to reemerge in the overcrowded smartphone business. At the same, the once dominant mobile device maker from Waterloo, Ontario has also decided to rebrand, adopting the ubiquitous name of its primary product, Blackberry, and will be listed under the ticker symbol “BBRY.”
As for the new phone, known as the BB10, it will be available in touch screen or traditional QWERTY keyboard models and carries a host of familiar features as well as a few new ones. The phones are expected to be available in March through the major wireless carriers. Ultimately, there’s more riding on this product launch than simply the success of a new device. Even the company’s marketing materials referred to the launch as “a starting point, not a finish line” given the do-or-die stakes that are in play for a business that is about one-tenth the size it once was.
“Is this the end of the beginning, or the beginning of the end,” quipped Dave Garrity, principal with GVA Research in the attached video. For him, the list of businesses which “successfully shrunk themselves to prosperity” is short, and thus, he has serious misgivings about Blackberry’s future.