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Rim Vision Development

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Submitted By abaaz123
Words 948
Pages 4
Industry: Telecommunications
Company: Research In Motion (RIM)

Company Profile:
Research In Motion (RIM), a global leader in wireless innovation, revolutionized the mobile industry with the introduction of the BlackBerry® solution in 1999.
The BlackBerry product line includes the BlackBerry® PlayBook™ tablet, the award-winning BlackBerry smartphone, software for businesses and accessories. BlackBerry products and services are used by millions of customers around the world to stay connected to the people and content that matter most throughout their day. (Source: RIM Corporate Website)
Recent Developments: * RIM’s stock price is at an all time low of $13 from a high of $70 at the same time last year when the worst of the financial crisis was over. At its high, the stock commanded a price touching $150 per share. * Since June 2008 to June 2011, RIM's shareholders lost almost $70 billion or 82 percent as the biggest decline among communications-equipment providers, from $83 billion at 3 years before to current $13.6 billion. * After Research in Motion introduced Thorsten Heins as the new CEO in January 2012, the company's stock price tumbled a whopping 8.47 percent. * The embattled BlackBerry maker's share of the United States smartphone market fell again in January, slipping to just 15.2% of the market, down from 17.2% at the end of October and about 16% in December. * Employee moral is at an all time low with several key executives leaving the company. In July 2011, the company cut 2,000 jobs, the biggest lay-off in its history. The lay-off reduced the workforce of the company by around 11% in one stroke from 19,000 to 17,000. * RIM has lost market share continuously to Apple Inc. iPhone and Android phones made decline of profit and the share value. On December 16, 2011 RIM shares fell to the lowest price since January 2004 and the

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