Blackberry plummets, as iPhone and Android sales soar
Research in Motion Ltd—the Ontario technology company that created the Blackberry—has decreased more than 80% in value, as tech conglomerates Apple Inc. and Google Inc. continue to dominate the smartphone market. It seems the Blackberry cannot compete with the wildly popular iPhone, or Google’s growing variety of modestly priced Android phones. RIM officials remain confident, however, ensuring that their commitment to the company’s survival is strong. They hope to make a deal with Microsoft Corp. or Dell Inc—two tech giants popular among corporate users—to improve their position in the market. The company, once worth $83 billion dollars, now stands at $13.6 billion—less than 1/5 its former value. Meanwhile, The Globe and Mail reports that 200 jobs were axed at RIM’s Waterloo, Ont. headquarters on Monday. The company will not comment on how many jobs would be cut overall or in which company sectors they would occur.
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