Business successes are something to celebrate. But don’t be fooled by the buzz surrounding the newly released Blackberry 10.
You may have read that Research in Motion (RIM) recently experienced a sharp rise in its stock. This was prompted by positive reviews of the company’s new phone, the Blackberry 10. Until now, RIM had been the cellar dweller of the highly competitive communication market. The company was crippled by idiotic decisions, such as the release of its business-oriented tablet, the Blackberry Play, without email capabilities.
Blunders and a lack of innovation combined to keep RIM behind the competition.
Last week RIM stock jumped and market watchers took notice. When Goldman Sachs invested in the company other investors quickly followed. This caused shares to close at $11.60, an 80% increase since September.
These numbers are cause for celebration — but RIM’s party will be short lived.
The Blackberry 10 meets the market’s necessities in a phone: multitouch technology, live information, social network integration, email, voice mail control and an effective keyboard. Yet there isn’t a marketable difference between the Blackberry 10 and its competitors. You don’t steal market share by mimicking the market.
Years ago, RIM was the king of the cell phone industry. The Blackberry was a pioneer in communication, a staple in business, and the phone customers craved. It ruled because it was was different and better than any other device being sold. Today, the Blackberry holds a splinter of the market, and the release of the 10 will only impress those clinging to the past.
RIM’s success is admirable, but it’s too little too late.