Shares of RIM tumbled 15% in after-hours trading following an announcement from BlackBerry maker RIMthat it would cut its earnings outlook and slash employees. RIM shares have lost nearly half their market value so far this year, and the news today is grim.
As regular readers of A4A probably have noticed, it's been hard to find much nice to say about RIM.
While its failure to redesign its product line is not as epic at Nokia's, BlackBerry devices were not upgraded in time to keep up with Android and Apple iOS phones and tablets.
RIM's stock s not suffering the reality that gadget freaks have known for many months: Blackberry lost its cool factor and is losing market share because of that.