Research in Motion is not having a fortuitous year to say the least and has once again managed to take a rather enormous kicking while already down and bleeding. Following months of steady declines, RIM’s share values took their biggest nosedive since June this week, following a statement from Pacific Crest Securities suggesting that BlackBerry 10 will be dead on arrival.
Following numerous release date delays, BlackBerry 10 has become the last remaining hope for RIM to once again refloat its already half-sunken ship.
Regardless of the ongoing promises from RIM CEO Thorsten Heins that that the eventual BlackBerry 10 release date will be worth the wait, Pacific Crest analyst Jams Faucette for one is not convinced.
“We believe BB10 is likely to be DOA,” he said this week in a statement. “We expect the new OS to be met with a lukewarm response at best and ultimately likely to fail.”
RIM has invested all of its remaining eggs in the hotly-debated BlackBerry 10 basket, which is destined to either see the company once again skyrocket to the big leagues alongside Apple and Android, or serve as the once-great Canadian company’s tragically drawn-out swansong.
Shares in RIM had begun to show signs of promise last week following the announcement that are least 50 global networks had begun testing the new BlackBerry 10 OS, but the positive turn of events would be short-lived. RIM shares subsequently plummeted by over 9% to come out at $8,24, representing the biggest fall since June this year.
Whether or not RIM can keep any interests whatsoever peaked in their BlackBerry 10 efforts remains unknown, as the next few months are destined to not only see Windows Phone 8 rise significantly in the stakes, but also devices like the Samsung Galaxy S4 tip the balance further in favor of Android.