Beleaguered RIM shares tank further as CEO hit with tepid response to Blackberry 10

“Research In Motion Ltd. remains ‘laser focused’ on getting its new mobile operating system ready for launch later this year, the company’s new CEO told a crowd of BlackBerry enthusiasts Tuesday,” Dan Gallagher reports for MarketWatch. “No further details were given on the planned commercial launch of the new BlackBerry 10 platform or the devices that will run on it.”
“In a keynote address at BlackBerry World in Orlando, Florida, RIM Chief Executive Thorsten Heins stuck to the company’s previously stated goal of having new devices on the market ‘later this year’ — a time frame that analysts worry will pit the company’s offerings directly against the next iPhone,” Gallagher reports. “Shares of RIM were down [5.73%] Tuesday.”

Gallagher reports, “The opening of the conference also coincided with a report from IDC that showed RIM’s share of the global smartphone market fell to about 6.7% in the first quarter of this year, compared to 13.6% for the same period last year… Another report, from comScore, found that RIM’s share of U.S. smartphone subscribers fell to 12.3% in the first quarter from 16% in the December period.”

Gallagher reports, “Ed Snyder of Charter Equity said the ‘squishy release schedule’ that RIM is sticking to points to a late 2012 release for BlackBerry 10 handsets, which would be problematic for the company. ‘Android and Apple are not golfing, they’re gearing up for another round of new products that could make BB10 look old long before the fourth quarter,’ he said. ‘I wouldn’t buy the stock on what I saw today.’”


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