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Apple's App Store alone passes RIM's stock value

updated 11:15 am EST, Mon December 19, 2011

RIM stock crash sees App Store pass it in value

RIM faced an ignominious milestone on Monday after a stock crash following its BlackBerry 10 phone delay. With its share price down to $13.44 as of Friday's closing and down under $13.30 as of Monday morning, RIM's $7.04 billion market cap or less was smaller than an $7.08 billion contribution to Apple's market cap from the App Store, as estimated by Trefis and noted by Brian Hall. Apple's total market cap of $354 billion was itself over 50 times larger.

The BlackBerry designer's stock price has collapsed by three quarters over the course of 2011 through a string of bad news. Steadily flat or declining BlackBerry shipments have been the most commonly cited factor, but many also point to the largely failed experiment of the BlackBerry PlayBook. RIM is known to have had ambitions of being the biggest challenger to the iPad but, by rushing its tablet to the market with unfinished software and pricing it higher than customers wanted, has had to ship far fewer PlayBooks than it expected as it cleared unsold stock through much of the second half of the year.

Much of the blame has been put on the co-CEOs' optimism. The company has regularly given guidance for quarters that it didn't meet in 2011, and it has had a history of predicting releases that didn't arrive on time. RIM both didn't ship its first BlackBerry 7 phones until three months later and delayed the PlayBook's 2.0 update three times, moving from an original June target to February.

By Electronista Staff


  1. climacs

    Mac Enthusiast

    Joined: Sep 2001


    saw at a Verizon store yesterday

    the "AMATEUR HOUR IS OVER" banner touting PlayBook. HAHAHAHAHA

    gotta go to the mall again today, I may snap a pic of it.

  1. aristotles

    Grizzled Veteran

    Joined: Jul 2004


    Fire the co-CEOs

    The only way to save their company is to fire their founders and retool as a software company.

  1. testudo

    Forum Regular

    Joined: Aug 2001


    Re: Fire the co-CEOs

    The only way to save their company is to fire their founders and retool as a software company.

    Wow, that's what a lot of people were saying about Apple some 10-15 years ago...

  1. facebook_Min

    Via Facebook

    Joined: Dec 2011


    not CEO, some of VP and their "expert destroy" RIM

    Don't blame CEO, they want RIM win.

    RIM has strange culture and self distruct political environment.

    In RIM if a new hired person figure out major problem and introduce efficient approach, both manager and his buddy group member will proof their wrong approach works. just like someone point out driving a car is right way, pushing a car is wrong way, then both manager and his buddy group member will hate you, and proof that 3 person can also move the car by pushing it. cheating email will be sent to some vice president, saying like: see, the car moving, pushing a car is a natural part of the process, in order to deny new hired contribution of introducing skill of drive a car, they have to deny merit of driving a car.

    It is very strange company culture and strange company political environment, it promote stealing and cheating skill. RIM’s management may be a typical instance in MBA course.

    This culture deny or steal hardworking team members’ contribution/innovation, generate strange political environment, destroy RIM.

    So don't blame CEO, some of their VPs and VPs' expert generate terrible culture and self destruct political environment.

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