Feeds

RIM shares take a bath after uninspiring BlackBerry 10 unwrap

Last Chance Saloon bouncers eye troubled Canadian drinker

Boost IT visibility and business value

Investors were less than impressed with Research in Motion's demo of its new BlackBerry 10 operating system and the developer tools to go with it, sending shares sliding by 5.76 per cent.

New CEO Thorsten Heins pulled out the new gear at his first BlackBerry World keynote speech yesterday, giving folks a look at what the OS should be able to do. The start of the conference also marked the release of the developer kit for the system so app-makers can start have some snazzy stuff ready by the time the first handsets come out at the end of the year.

BlackBerry 10 is widely seen as the last chance saloon for the troubled Canadian phone-maker, which has struggled to look like it's keeping up with the likes of Apple and Android. And RIM needs developers to make a ton of apps for the new OS if it has any chance of taking off.

However, investor confidence in the firm seems to have evaporated. The stock has plummeted 72 per cent in the last year, helped by a 5.76 per cent fall yesterday from the previous day's close, leaving the shares trading at $13.48 on the NASDAQ.

One problem may be that RIM still hasn't given out many clues about what the hardware to go with the new system might be like. At BlackBerry World, it handed out a prototype device to developers, the Dev Alpha, although the company said the actual mobiles won't look anything like it.

In general, RIM has not done a good job of reassuring investors that it can recover from the market share shrinkage caused by Apple and Android phone-makers like Samsung.

Aside from failing to come up with a smartphone that can claw back some BlackBerry popularity, the firm also suffered after a three day outage towards the end of last year that was handled horribly, and from low sales of its unloved fondleslab the PlayBook. ®

Boost IT visibility and business value

More from The Register

next story
iPad? More like iFAD: We reveal why Apple fell into IBM's arms
But never fear fanbois, you're still lapping up iPhones, Macs
Sonos AXES support for Apple's iOS4 and 5
Want to use your iThing? You can't - it's too old
Philip K Dick 'Nazi alternate reality' story to be made into TV series
Amazon Studios, Ridley Scott firm to produce The Man in the High Castle
You! Pirate! Stop pirating, or we shall admonish you politely. Repeatedly, if necessary
And we shall go about telling people you smell. No, not really
Too many IT conferences to cover? MICROSOFT to the RESCUE!
Yet more word of cuts emerges from Redmond
Joe Average isn't worth $10 a year to Mark Zuckerberg
The Social Network deflates the PC resurgence with mobile-only usage prediction
Chips are down at Broadcom: Thousands of workers laid off
Cellphone baseband device biz shuttered
Feel free to BONK on the TUBE, says Transport for London
Plus: Almost NOBODY uses pay-by-bonk on buses - Visa
Amazon says Hachette should lower ebook prices, pay authors more
Oh yeah ... and a 30% cut for Amazon to seal the deal
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.
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.
Backing up Big Data
Solving backup challenges and “protect everything from everywhere,” as we move into the era of big data management and the adoption of BYOD.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
Why and how to choose the right cloud vendor
The benefits of cloud-based storage in your processes. Eliminate onsite, disk-based backup and archiving in favor of cloud-based data protection.