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. ®

The essential guide to IT transformation

More from The Register

next story
Microsoft exits climate denier lobby group
ALEC will have to do without Redmond, it seems
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
Barnes & Noble: Swallow a Samsung Nook tablet, please ... pretty please
Novelslab finally on sale with ($199 - $20) price tag
Ballmer leaves Microsoft board to spend more time with his b-balls
From Clippy to Clippers: Hi, I see you're running an NBA team now ...
Kate Bush: Don't make me HAVE CONTACT with your iPHONE
Can't face sea of wobbling fondle implements. What happened to lighters, eh?
Video of US journalist 'beheading' pulled from social media
Yanked footage featured British-accented attacker and US journo James Foley
True fact: 1 in 4 Brits are now TERRORISTS
YouGov poll reveals terrible truth about the enemy within
Assange™: Hey world, I'M STILL HERE, ignore that Snowden guy
Press conference: ME ME ME ME ME ME ME (cont'd pg 94)
Call of Duty daddy considers launching own movie studio
Activision Blizzard might like quality control of a CoD film
prev story

Whitepapers

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.
7 Elements of Radically Simple OS Migration
Avoid the typical headaches of OS migration during your next project by learning about 7 elements of radically simple OS migration.
BYOD's dark side: Data protection
An endpoint data protection solution that adds value to the user and the organization so it can protect itself from data loss as well as leverage corporate data.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?