RIM Foreign Takeover Would Not Be Blocked By Ottawa

Posted on Apr 2 2012 - 7:02am by Editorial Staff

Research In Motion which recently announced its revenue for the fourth quarter of fiscal 2012 was $4.2 billion, down 19% from $5.2 billion in the previous quarter and down 25% from $5.6 billion in the same quarter of fiscal 2011. The BlackBerry as a brand still has undeniable value that is why RIM’s status is consider as an icon of Canadian innovation.

Federal Finance Minister Jim Flaherty said Friday his government would not block any foreign takeover of Research In Motion, saying that “they will be the masters of their own destiny.” “We would like RIM obviously to be successful as a Canadian company, which it has been — a very innovative and successful company,” Flaherty said.

RIM also announced a number of executive changes, including the co-CEO Jim Balsillie is stepping down from the company’s board. Both the sales and marketing departments are said to have been hit. Other departures are said to include David Yach and Jim Rowan, CTO of software and COO of global operations, respectively. The question raised by RIM’s new direction is how well it can respond to the growing trend where corporate employers, rather than business IT departments, decide what devices a company will use.

(Image Source: RIM logoFeatured Image)

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Editorial Staff

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