Hello fellow monkeys !
BlackBerry is changing. After losing 80% of its market value over the last two years, the Canadian company is finally trying to do something right. It started early this month with a ticker change from the old RIMM to BBRY and the release of the new BlackBerry Z10. Their attempt to turn the company around will continue with a likely change in the company name at the shareholder's GA later this year, but that will not be enough to save BlackBerry.
The first main change was the ticker change. At least, the company understood that they could not try to be a player on multiple markets and should focus on their blackberry unit. Furthermore, the company has been shutting down some of its (less efficient) subsidiaries over the last couple of years. They also laid approx. 35% of their workforce off since 2011 in order to cut their losses, but the markets did not care. Their only hope lies with their new BlackBerry smartphones and OS.
To top it off, former CEO Jim Balsillie sold all his BBRY shares at the end of 2012 (DealBook) indicating his belief that the new BlackBerry line will not be enough to save the company Even a longtime RIMM analyst admited that the new devices will not be sufficient to significantly rebuild the company's market share.
The company's future is left open to speculation. I think the likeliest scenario includes a buyout by some PE firm, especially considering their patent portfolio and their good QNX software. What's your take on BlackBerry ? Will they succeed and turn their company around or do you think they're done ?