Where to begin, folks? BlackBerry and its parent company Research In Motion haven’t been able to convince consumers to stop buying iPhones and iPads. And they won’t be able to anytime soon. 10% of their employees will be receiving pink slips before year’s end and RIM just announced that it’s built up a stockpile of unsold BlackBerry and PlayBook devices valued at over $1 billion. That’s nine zeros. And that isn’t even the worst news. Thanks to this immense supply of paperweights and extreme disdain for their BlackBerry 10 OS, RIM’s stock is no longer trading and the company has hired investment banks JP Morgan and Royal Bank of Canada to “explore options,” which would be the corporate equivalent of a doctor calling the family in to say goodbye to a loved one for the final time.
In layman’s terms, it’s essentially a white flag. Worst case scenario, RIM essentially puts itself up for sale, so look for the CEO to try to find a suitable buyer and wash his hands clean of this dirty mess. Best case, the company could start to license its touted security features to Apple or Google and become a solely a behind-the-scenes agent. Either way, it’s pretty much over for one of the pioneers of the smartphone era. Mark my words, no amount of government contracts or clinging onto their security encryption will be able to bring them back up. The end for BlackBerry and RIM is essentially a formality at this point.
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