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Fill it to the RIM — With Fail

September 20th, 2013 - 2:05 pm

There won’t be too many more of these headlines, I’m afraid. I was in the shower when the news came out that trading was halted on BlackBerry shares, but got the heads-up from Longtime Sharp VodkaPundit Readerâ„¢, and all-round good-drinking guy, Greg Hill. Here’s why NASDAQ froze trading:

– Company expects GAAP net operating loss of approximately $950 million to $995 million; loss includes a primarily non-cash, pre-tax inventory charge of approximately $930 million to $960 million resulting from the increasingly competitive business environment impacting BlackBerry smartphone volumes, and a pre-tax restructuring charge of $72 million

– Company expects to report revenue for the second quarter of approximately $1.6 billion; recognizes sales of approximately 3.7 million smartphones in the second quarter

They’re cutting 4,500 jobs, which is about 40% of their workforce. BlackBerry’s unit sales fell almost in half since the first quarter. And that was after releasing all-new phones, I might add.

The company plans to focus on prosumer sales and on services. But what unique service do they offer, now that every smartphone in the world can get secure(-ish) email via Exchange, and without having to rely on BlackBerry’s sometimes-fickle servers? And prosumers are already buying either iPhones or the better built Android models from Samsung.

It’s hard to see how they bounce back from six years of obtuseness and failed efforts.

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All Comments   (4)
All Comments   (4)
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Remember after the 2008 election, and there were all those stories about how Dear Liar just had to have his Blackberry, so the Secret Service had to secure it?
First example of his freaky anti-Midas effect - everything he touches turns to garbage.
44 weeks ago
44 weeks ago Link To Comment
To be fair, BB was already crap before Zero touched one.
44 weeks ago
44 weeks ago Link To Comment
My acquaintances in Blackberry have that death row attitude.
45 weeks ago
45 weeks ago Link To Comment
"but got the heads-up from Longtime Sharp VodkaPundit Readerâ„¢, and all-round good-drinking guy, Greg Hill."

Awe, shucks!

*blush*

It's 5-in-the-pm here, so I'm off to pour myself a nice 20-yo Scotch. Been an intense week. Glad it's over.
45 weeks ago
45 weeks ago Link To Comment
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