Feeds

RIM is now worth less than its assets

Troubled BlackBerry maker's shares dip

Build a business case: developing custom apps

A fall in the share price of battered BlackBerry maker RIM puts the firm's market value below the value of all its stuff today.

With a share price of $18.59 at 12.21 EDT, Research in Motion's total stock added up to less than what its property, patents and other assets are worth, according to the book value of $18.92 a share calculated by Bloomberg at the end of last quarter.

RIM has taken a number of hits in the last couple of months, with dramatic cuts in its fondleslab offering, a massive network outage in EMEA that was a public relations disaster and the recent news that an update for the aforementioned tablet, the PlayBook, was being postponed.

The Canadian company's tablet product has become increasingly difficult to shift from the shelves, with retailers first slashing prices and then touting them in a buy-one-get-one-free offer.

One of the issues with the device is its lack of a native email client, a situation the company was supposed to be remedying with an update over the summer. Last week, however, RIM announced that it was deferring the OS upgrade until February next year. Even worse, that update still won't include BlackBerry Messenger.

Meanwhile, its massive network FAIL in Europe, the Middle East and parts of Asia last month went on for three days while the company danced around the issue, initially refusing to hand out information, then continuously insisting the network was back up as it failed once more and then going back to not giving out much information again.

While not having access to online services on their BlackBerrys was driving most users mad, the poor response from RIM seemed designed to needle them even more and drive punters to rival Apple's iPhone.

The combination of problems, added to RIM's failure to come up with an adequate response to the new kind of consumer-led smartphones, have prompted the sale of stock as the company reported a fall in its revenues for the quarter ending in September, the first time it's had to do that in nine years. ®

5 things you didn’t know about cloud backup

More from The Register

next story
Assange™: Hey world, I'M STILL HERE, ignore that Snowden guy
Press conference: ME ME ME ME ME ME ME (cont'd pg 94)
Premier League wants to PURGE ALL FOOTIE GIFs from social media
Not paying Murdoch? You're gonna get a right LEGALLING - thanks to automated software
Caught red-handed: UK cops, PCSOs, specials behaving badly… on social media
No Mr Fuzz, don't ask a crime victim to be your pal on Facebook
Ballmer quits Microsoft board to spend more time with his b-balls
From Clippy to Clippers: Hi, I see you're running an NBA team now ...
Online tat bazaar eBay coughs to YET ANOTHER outage
Web-based flea market struck dumb by size and scale of fail
Amazon takes swipe at PayPal, Square with card reader for mobes
Etailer plans to undercut rivals with low transaction fee offer
Call of Duty daddy considers launching own movie studio
Activision Blizzard might like quality control of a CoD film
US regulators OK sale of IBM's x86 server biz to Lenovo
Now all that remains is for gov't offices to ban the boxes
prev story

Whitepapers

5 things you didn’t know about cloud backup
IT departments are embracing cloud backup, but there’s a lot you need to know before choosing a service provider. Learn all the critical things you need to know.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Build a business case: developing custom apps
Learn how to maximize the value of custom applications by accelerating and simplifying their development.
Rethinking backup and recovery in the modern data center
Combining intelligence, operational analytics, and automation to enable efficient, data-driven IT organizations using the HP ABR approach.
Next gen security for virtualised datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.