RIM CEO: There’s Nothing Wrong With the Company as It Exists Right Now

0
RIM CEO: There’s Nothing Wrong With the Company as It Exists Right Now
user1462590383 / Pixabay

RIM CEO: There’s Nothing Wrong With the Company as It Exists Right Now

Play Quizzes 4

Yes, you read it right. Despite question mark on the company’s chances of survival, the CEO of Research In Motion Limited (NASDAQ:RIMM) (TSE:RIM), Thorsten Heins said on CBC’s Metro Morning radio show Tuesday morning, “There’s nothing wrong with the company as it exists right now. I’m not talking about the company as I, kind of, took it over six months ago. I’m talking about the company (in the) state it’s in right now.”

He is confident that the BlackBerry maker will successfully endure current hurdles that include 5000 job cuts, crashing stock prices, sliding sales of BlackBerry smartphones and the recently announced delay in bringing BlackBerry 10 model in the market.

This Too Value Fund Explains Why Turkey Is Ripe For Investment Right Now

TurkeyThe Talas Turkey Value Fund returned 9.5% net for the first quarter on a concentrated portfolio in which 93% of its capital is invested in 14 holdings. The MSCI Turkey Index returned 13.1% for the first quarter, while the MSCI All-Country ex-USA was down 5.4%. Background of the Talas Turkey Value Fund Since its inception Read More

Mr. Heins is trying hard to win the confidence of customers and investors that RIM can survive the fierce competition from Apple and other Android-based smartphones. Thorsten Heins said that he had made several changes to the company’s management and business operations since he became CEO in January 2012.

According to him, the company will regain market share in the US, and the sales are strong in other countries. He added that BlackBerry 10 platform would transform mobile computing. BlackBerry 10 operating system and phones are considered the last-ditch shot to rescue RIM.

However, investors and analysts aren’t equally optimistic about the company’s future, and many have already downgraded their expectations from the company. Today, Barclays put its earnings estimates for RIM “at risk.”

“We model a loss of $1.04 versus a consensus of a three-cent gain in full-year 2014,” wrote analyst Jeff Kvaal in a note. “We find a possible floor or takeover valuations very risky.”

RIM stocks were down 11 cents to $7.43 in early trading at Toronto Stock Exchange.

Updated on

No posts to display