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RIM CEO says “there’s nothing wrong with the company as it exists right now”


In an interview this morning with CBC’s Metro Morning radio show there were a few odd quotes by RIM CEO Thorsten Heins today: “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.” Heins followed this up by talking about his competition, specifically Google’s Android and Apple’s iOS, stating “This company is not ignoring the world out there, nor is it in a death spiral… yes, it is very, very challenged at the moment — specifically in the U.S. market. The way I would describe it: we’re in the middle of a transition… All that is in the making, it’s in the works. This company is in the middle of it and I’m positive we will emerge successfully from that transition.”

RIM reported their Q1 results last week and decided to lay off 5,000 employees, plus announced their anticipated BlackBerry 10 OS and devices will delayed and released in Q1 2013. The market reacted heavily to this news and their stock price is now sitting at $7.49/share with a market share of $3.86B.

Unfortunately there are some things wrong with RIM, but they are fixing them. If there wasn’t they wouln’t have hired J.P. Morgan Securities and RBC Capital Markets to help with a “strategic review” of the company. In addition, if there’s wasn’t anything wron with RIM they wouldn’t be cutting 5,000 jobs.

Source: Canadian Press

  • Screw you guys im going home

    Well obviously he was being sarcastic

    • Kool Aid

      Where is the part when Jughead breaks through the wall and someone yells “hey! Kool-aid!”

      Looks like they’re still drinking kool-aid at the rim palace

    • Lolcopter

      “There’s nothing wrong..”

      Hahahahaahhahahahahahahahahaha

    • Jabba Kadabra

      Everyone who is bashing him, what would you say if you were in his spot LOL.

      He’s screwed, there is nothing he can say. At least he is getting paid tons.

    • RIo

      10 years ago, Apple was near bankruptcy and CEO of Dell even told Jobs to sell his company cause it is worthless. They are now the biggest company in the world.

      I am no bb fan but you never know what might happen. They are perfecting BB 10 hence the delays

    • Spikedlemon

      So a “failure to execute” is ok in RIM’s culture?

  • Dustin

    ….And the downward spiral of RIM continues.

  • jellmoo

    Ignoring the reality of the situation isn’t going to miraculously change it. I can’t see idiotic quotes like this giving investors a reason to stay with RIM.

  • Rory

    Sounds like something the old CEOs would have said, hope he doesn’t seriously believe it.

  • jack

    can i have what he’s smoking?

    i understand that its what he’s SUPPOSED to say, but come on, no one is going to buy this sh!t

  • Frank

    He’s getting his 10 millon $ salary so he is doing well and thinks the company is too. He can buy a new Android phone if Rim dies so he is not worried about him! Wow so sad to see a giant dying and its people still not seeing the urgency of a radical change!

    • Dave

      Screw RIM for all I care. The most stupid management on earth!

  • DenDen

    Short RIMM

  • js

    No, nothing is truly wrong with RIM at the moment. But common sense tells us in the future they are screwed. Next question for Heins: “How do you expect BlackBerry 10 to take on Android, Windows Phone, and iOS – each which all have unique services to back their mobile products while BlackBerry only has BBM?” I’m guessing Heins would pull a Lazaridis, getting up and leaving the interview.

  • George

    One word: delusional

  • bbpb

    Just remember that they are changing the OS, so there is a lot of people that only know Java for the old OS and you can just get them to pick up C++ over night, and a lot will never pick it up, so then there would be no place at RIM for them. Not that i think it is a good thing that people are lossing their job, I do feel bad for them and their families hope it does not take them long to find a new job. (I have been in their situation)

    • Ron

      If they are a half-decent programmer they will be able to easily pick it up. Programming teaches you problem solving skills, the syntax of a language has very little to do with it.

    • bbpb

      Ron are you a programmer?

      C++ is a harder langauge to learn thats why C++ programmers get payed more then Java programmers. There are also a lot more Java programmers then C++

    • Yeria

      Ron, you obviously aren’t a programmer and if you are, you must have learned it through “Programming for dummies” book or something because learning a new language is more than just learning syntax. Just knowing syntax and having problem solving skills will make you a shitty programmer. Very, VERY shitty one that doesn’t know how to make efficient and elegant programs in the language he/she is using. Almost every language has its own unique ways of doing things and often times they create problems that you didn’t even know you can encounter.

      On top of that, making transition from Java to C++ is quite a difficult one. Not because C++ is a difficult language but because the way C++ handles things will be particularly difficult to understand for Java programmers. On the other hand, Java programmers will have no sweat making transition to C# as its structure is very similar to Java.

      Of course, the time it takes for anyone to make a transition from any one language to another will vary, but it isn’t something you just get because you’re a good programmer. Go take a basic OOP course from a college and then take a course each for C, C++, Java, C#, ASP.NET, PHP, JavaScript and Ajax and then you will understand what an embarrassment you just wrote regarding programmers learning new languages.

    • bbpb

      well put Yeria i could not agree more. I had just finished college and took all of those classes.

    • Dave

      Nobody care about what OS the phone is running in this day of age. The big question is “do they have plenty of good apps” That’s the most important.

  • Mark

    It is his job to say it, believe it, and do it to the best of his ability. Nothing unexpected in that statement. I hope he produces at least some results.

    It is not like RIM has nothing to work with. The brand is a shell of what it used to be, but they still have some valuable IP, and decent user base if they can stop the bleeding, and adequate hardware. Not completely unsalvageable as many will tell you. Fanboys just love the idea of their favourite brand taking over and others crashing.

  • Matt

    But but, my RIM job.

  • Zomby

    In other news: the sky is not blue, water is not wet and snow isn’t cold.

  • LazarBB13

    Michael Lazaridis is STILL:
    Non-Independent Vice Chairman of the Board

    SO he tells Heins what to do and what to say:
    Those are Lazaridis words!
    Recap:

    Damned if they do, damned if they don’t release more OS7 devices

    -BB10 in EIGHT MONTHS ( February 2013 at the earlies)

    -Stock at $7.30 Market Cap at $3.6B and STILL NOBODY BUYS THEM; this only tells you something: They want to wait for RIM to either get cheaper, collapse, fire more poeple or divide, ANY option will be better for the new buyer.

    -But Laza-Heins say:”There is nothing wrong with that!”

  • jansen

    honestly their is nothing wrong with posting numbers once you have a plan, if your plan is mess then stfu till you have something that sounds well.

  • Mr. Bill

    There is nothing wrong with the company at the moment, other then no new models this year an sales have all but stopped, interest in their products is all but dead.

    Yeah life is good at BB right now.

  • Chris

    Instead of we readers being guilty of standing by watching RIM fail (which seems destined, given the growth rate of Android and the margins of Apple)…what about suggesting solutions?

    Think back to around 2003. RIM was dropping like a stone, but it took out a big loan, and used the billions to get to the next level. This time it’s different, but what can they do?

    - Retrench to its stronghold markets ie indonesia?
    - Trek forward with BB10, make bb7 curves/bold prices more reasonable?
    - promote bbm music – make it free or 1.99/mo instead of 5+/mo? (I added 250 contacts and got access to 6000 songs in just a week)

  • Philippe Gaboury

    That message was not meant for investors, it was meant for staff. When your company is in such bad posture, there’ll be talented people jumping ship if you don’t do everything to reassure them. A lot of employees won’t buy into the bullshit but some will and it will keep them from being demotivated. It’s a stupid move to make but it’s also one you can’t avoid.

  • Dan

    LOL. What are they smoking at RIM?

  • Allan

    Sounds like Baghdad Bob to me.

  • kman

    Sometimes its better to say nothing rather than speaking and looking like an i***t. That quote is going to do nothing but draw ridicule.

  • surveillance

    This company fell asleep at the wheel. The only reason this company ever saw a $100+ stock price was because at the time there wasnt much competition in the consumer market. Consumers were buying the enterprise phones RIM had produced for enterprise and once Android and IOS came out the consumers ran. RIM is finally becomming the company they always intended. One that caters to enterprise only, and i think they will be okay.

  • PiRanHa

    Holy Crap… What kind of damage control statement is that?!? Pretty much every cellular systems out are evolving. Like in nature, if you can’t adapt or to slow to change, you’ll be crowded out and left no room to grow. Man, I loved my blackberries and buying their stocks in the early years have given me a lot of financial freedom but they’re not giving me much choice to hold on. Wow, their egos have ruined a once great product.

  • we’llwaitandsee

    Consumers are a fickle bunch. Everyone says they are loyal to a specific brand. The truth of the matter is if a company can bring to market a revolutionary product, like Apple/Google have done, then consumers will buy it. Now that products are all starting to look the same, and for the most part function similarly. They are all slab phones with big screens and a touch OS. It can go one of two ways for RIM.
    1: Build a product that is revolutionary compared to the existing slab phones. Something consumers have not yet experienced.
    2: Build a slab phone that is at least equal to the best product already available to the consumer and harness the power of their network. The second part is where their true value is.

    People keep forgetting that RIM is more about their secure network communications than the actual device. If they can produce a device that’s as good as others in the market and pair it with this fantastic network I have no doubt in my mind that they will rebound.

    Here’s hoping for the best. Good luck RIM.

  • RobynInSales

    I am so disappointed to hear that RIM is pushing their BB10 devices to next year. As a Sales Rep of a Rogers dealer I’ve seen first-hand how many people have turned from their BB devices to iphone or android or even windows! The biggest thing for me is reliability in their product. People love their blackberries, they will stick with them purely for a physical keyboard, but unfortunately many have to pay a high price to repair or replace their devices. 9 out of 10 devices coming in for repair will be Blackberries! This means something is devastatingly wrong.

    As a consumer and as a dealer I am fed up with the low quality that RIM has produced and will apparently continue to produce till next year. The thought of having to continue to sell BB7 devices actually makes me feel sick. Their history has been to deny problems with their devices. Obviously this is continuing! I understand delaying a product to make it better – I just hope this is the case! They will lose many more customers over the course of this next year if BB10 is not coming out with other devices in the fall.

    RIM needs to improve their OS to compete, but they also need to improve their physical quality! If BB10 comes out next year and the devices start to come back for repair a month later, it will spell death for the company.

  • EvanK

    Maybe they CAN turn it around, but saying that there’s nothing wrong with 5000 layoffs, a delay from early 2012 to 4Q 2012 to 1Q 2013, stock prices of $7.50 and a 30% profit decrease is pure BS.

  • TK Chan

    picture says all

  • Edge

    Except for the CEO being in major denial.

  • Roger

    Cherry Kool-aid is my favorite, personally.

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