“(RIM is not) in a death spiral” – RIM’s Thorsten Heins
While BlackBerry maker Research In Motion (RIM) has seen its stock slump after announcing a loss at their annual financial review, CEO Thorsten Heins is convinced that RIM is in good shape. During an interview on CBC’s Metro Morning radio show, Heins reiterated that the company is not in a death spiral.
“There’s nothing wrong with the company as it exists right now… I’m not talking about the company as I, kind of, took it over six months ago. I’m talking about the company (in the) state it’s in right now,” he said.
“This company is not ignoring the world out there, nor is it in a death spiral… yes, it is very, very challenged at the moment — specifically in the U.S. market. The way I would describe it: we’re in the middle of a transition… All that is in the making, it’s in the works. This company is in the middle of it and I’m positive we will emerge successfully from that transition,” he continued.
But Heins is aware that analysts forecast RIM’s future as grim. “Don’t count BlackBerry out. In recent weeks, it’s become fashionable for pundits and market watchers to alternately eulogize Research In Motion as a fallen pioneer and demonize management for not chopping up the company to sell for parts,” he wrote in a piece for The Globe and Mail.
“As President and CEO of RIM, I understand the frustration and impatience of RIM’s shareholders and their eagerness to see the company start to surface the underlying value we all know exists at RIM. But we do not believe RIM is a company at the end. Nor do RIM’s current challenges hint at a larger Canadian problem of not being able to sustain successful technology companies,” he added.
Charlie Fripp – Consumer Tech editor