13°c Overcast
16°c Cloudy with showers
Winnipeg Free Press - PRINT EDITION
RIM CEO doesn't buy 'death spiral' commentary
TORONTO -- Research In Motion chief executive Thorsten Heins was on the defensive Tuesday, insisting "there's nothing wrong with the company as it exists right now," and he's confident the company will get past its current challenges.
Heins led the march of several executives who fanned out to media outlets in an effort to cast a positive glow on the company, which has been facing an increasing amount of negativity over its seemingly endless problems.
Last week, RIM shocked the market with another delay to its crucial BlackBerry 10 operating system, which has been considered by many as a last-ditch effort to save the company. But that was only part of the bad news.
RIM also said it would layoff about 5,000 employees as it slashes costs across the organization to contend with faltering sales of its BlackBerry smartphones and a quickly eroding stock price.
In morning trading on Tuesday, RIM's stock was down seven cents to $7.47 on the Toronto Stock Exchange.
Heins acknowledged the company faces a challenge to regain market share in the United States, but insisted RIM isn't in a "death spiral."
"There's nothing wrong with the company as it exists right now," Heins said on CBC's Metro Morning radio show.
"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."
Heins said the major changes RIM has made to its management and business objectives since he became CEO in January are part of a massive transition to a whole new technology platform.
He said sales in other parts of the world remain strong and argued the transition to the BlackBerry 10 will be a completely different way for RIM to address mobile computing.
But before that launch sometime early next year, RIM needs to survive the rest of 2012. Many analysts expect that will be particularly challenging as the company tries to market its older lineup of smartphones to savvy North American users who could easily switch to brand new Android phones or the new Apple iPhone expected sometime this fall. In many ways, RIM is turning to its global customer base in hopes that'll keep the company's sales float in the meantime.
-- The Canadian Press
Republished from the Winnipeg Free Press print edition July 4, 2012 B3
More Business
- Back to Top
- Return to Business
Poll
Most Popular Business
- Mounties say crooks passing fake polymer bank notes in British Columbia
- Syria's pro-Assad hackers hijack Financial Times blog, Twitter feeds in latest media attack
- Gates again richest man in the world
- Record Powerball jackpot entices workers to organize office pools; some tips to avoid trouble
- Ex-'Pegger seeks to grow local businesses
- Province's exports looking better than forecast
- Wholesale sales in province down
- The Gretzky of Gretzky collectors
- Tougher food-safety rules in the works: Agriculture Minister Gerry Ritz
- Bank of Montreal gets 90 days to improve system for thwarting money-laundering
- Transcona transformation
- Mounties say crooks passing fake polymer bank notes in British Columbia
- Holiday pump jump debated
- Driving downtown development
- Winnipeg's got the REIT stuff
- McDonald's adding 3 new Quarter Pounders as it phases out third-pound Angus burgers
- CEO, execs terminated at TCIG
- Flight attendants union calls $50 million Air Canada cuts premature
- 3 Ford owners sue in federal court, saying EcoBoost engine is defective
- Emergency manager reveals Detroit is nearly broke; city may have no choice except bankruptcy
- Target opens its first Manitoba stores Tuesday
- New structure to be king of downtown?
- Transcona transformation
- Target opens Manitoba stores
- Mounties say crooks passing fake polymer bank notes in British Columbia
- Raising the rent is a good sign
- City to get a touch of glass
- Canad Inns property has personal meaning for owner
- Holiday pump jump debated
- Border-fee idea doesn't fly
- Diversification spurs Exchange Income's growth
- Will, power of attorney are different documents
- Few crossovers score well in front crashes: report
- GrowthWorks ready to dole out cash to ENSIS unitholders
- The Gretzky of Gretzky collectors
- Tougher food-safety rules in the works: Agriculture Minister Gerry Ritz
- Initial public offerings scheduled to debut next week
- Give yourself permission to relax
- Buyer beware in online auto sales: experts
- Ex-'Pegger seeks to grow local businesses
- Transcona transformation
- CEO, execs terminated at TCIG
- Winnipeg's got the REIT stuff
- Diversification spurs Exchange Income's growth
- Driving downtown development
- There are lots of I's in 'team'
- Late deal in workplace sex-harassment case
- City to get a touch of glass
- Flight attendants union calls $50 million Air Canada cuts premature
- Reno in house of McDiarmid
- Transcona transformation
- MacDon on the block?
- New structure to be king of downtown?
- CEO, execs terminated at TCIG
- Target opens its first Manitoba stores Tuesday
- Canad Inns property has personal meaning for owner
- Winnipeg's got the REIT stuff
- Older and jobless? Resource on hand
- Carney says touching Canadian deposits "hard to fathom" in a new bail-in scheme
- Winnipeg Boeing plant set to expand
Ads by Google
You can comment on most stories on winnipegfreepress.com. You can also agree or disagree with other comments. All you need to do is register and/or login and you can join the conversation and give your feedback.
Have Your Say
New to commenting? Check out our Frequently Asked Questions.
The Winnipeg Free Press does not necessarily endorse any of the views posted. By submitting your comment, you agree to our Terms and Conditions. These terms were revised effective April 16, 2010.