This is what Blackberry’s stock looks like; it has declined drastically over the past two years, and Research in Motion RIM just announced that it would no longer go after the consumer market for its Blackberry phones. Instead it’s going to focus on just corporate.
Here’s Apple’s over the same period of time:
Two years ago, I mentioned on Jim Cramer’s Mad Money how Blackberry needed to refocus the brand while also creating brand extensions beyond the phone. As me and my guy Cramer pointed out, Apple came out with new carriers, new versions of iPads, and even Apple TV — but it took two years and a new CEO to cause significant change at the company. Now, I know I’m not the first to criticize RIM and the direction it has taken its once-prized Blackberry brand, but this is the perfect example of what happens when a company (especially a technology company) does not continue to innovate. Think about it. Is your Blackberry really all that different from similar models from 5 years ago?
Do you think this plan is do-able or has RIM taken too long to adapt? How would you change up the Blackberry brand? What current brands aren’t innovating, and you see them one day having problems like RIM?
Let me know what you think by posting your comments in the section below!