RIM BlackBerry 10 Prototype Announcement Fails To Make Investors Happy

Posted on May 2 2012 - 7:54am by Editorial Staff

BlackBerry maker yesterday unveiled its BlackBerry 10 prototype but what lately seems to be is that the investors are not happy resulting in the company’s share tumbled and closed by 5.80% lower. The BlackBerry 10 devices will navigate with fewer keystrokes than the legacy smartphones, relying on swipe gestures and word suggestions. “We wanted a user paradigm that is easy and fast,” Heins said, demonstrating how information from documents, emails, calendars, and address books could slide in and out from the screen’s edges. “It’s all about making things flow.”

Colin Gillis, an analyst at BGC Partners, said Heins’ presentation only served as a reminder of the tough road the company has ahead as it prepares for the make-or-break BlackBerry 10 launch. “The bulls have disappeared from the scene as far as RIM is concerned,” said David Cockfield, managing director and portfolio manager at Northland Wealth Management. “There is no investor confidence in RIM at all. It will have to do something fairly spectacular to turn things around.”

The company knows pretty well that its soon to be coming phones as well as tablets won’t be sold out unless developers get excited about the platform and create a huge number of apps to operate it. As a consequence, shares of the BlackBerry maker have dropped about 70 percent over the past 12 months. On Tuesday, RIM closed down 5.80 percent at C$13.31 in trading on the Toronto Stock Exchange.

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Editorial Staff at I2Mag is a team of subject experts led by Karan Chopra.