Deathwatch: BlackBerry going under?
Things are looking pretty grim at RIM - those that make BlackBerry things - as shares continue to fall drastically. It has been reported that things have got so despairingly awful that shares are now below the value of its cash, receivables and other assets.
RIM has a market capitalisation of less than $7 billion and the combined assets are $7.2 billion.
Much of the trouble stems from the top, with those leading the company making a series of terrible errors. While other mobile makers do a roaring trade, RIM are stumbling around saying, last week, that they'd be delaying the release of its make-or-break new smartphones which will now appear late next year.
In addition to this, the appetite for RIM's PlayBook tablet isn't great. Also, the huge network outage hasn't instilled confidence in people on the look-out for new gadgets to buy.
While RIM are making solid-earnings, Wall Street seems jumpy. Could RIM be sliding into a hole from which it won't recover?