The storm clouds are further gathering over the RIM headquarters. A week before the company is set to reveal its Q3 results (December 15, next Thursday), Citigroup’s Jim Suva is offering up 10 more ways the company can further wreck its image and make 2012 extra special. Frankly, 2011 was a horrendous year for RIM. News that it can get worse? Hopefully none of the company’s execs get wind of this and turn more international flights into frat parties.
Reiterating his Sell rating and $15 price target for Research in Motion shares, Suva explained that the BlackBerry-maker’s full fiscal Q3 results may be much worse than originally thought. Here’s what we already know: RIM is seeing a huge decline in shipments this quarter, only the second time in ten years the company has seen units decline. Add to that the bevy of other problems faced by the handset maker, who what the results will be.
Given the severity of the challenges facing RIM, it wouldn’t be surprising if the company decided to stop forecasting year results altogether, Suva said.
Here are ten things Suva believes will hurt RIM’s already faltering image, as posted on TechTrader:
- The company is missing the holiday buying season
- There could be further delays in getting its “QNX” operating system software onto BlackBerry handhelds, and getting native email running on the PlayBook tablet computer
- RIM is stuck with the PlayBook, given that it’s the only device at the moment that keeps developers working on QNX
- RIM is failing to scoop up the sales Nokia (NOK) has been losing
- Apple’s (APPL) iPhone 4S will further hurt RIM’s Norther American sales because now it is a “world phone,” which erodes some BlackBerry appeal for executives on Verizon Communications (VZ) plans
- RIM is losing shelf space at retail, and carrier enthusiasm
- Network outages and slumping sales in North America threaten the highly profitable subscriber revenue base
- The company has been cutting staff to save money at the very time it needs to bulk up on resources
- Revenue and EPS growth are both set to underperform the industry’s overall health
- The consumer trend in IT, with people picking their own phones, “could severely impact RIM’s subscriber base” as annual corporate subscriptions roll over, with some being cancelled.
It’s not all down in the doldrums for RIM, however. RIM shares have gone up 12 cents today! Still, seeing ten more ways it can screw up isn’t exactly the kind of thing RIM wants to see after the year they’ve had.
Add magic to your living space with these string lights
String lights add personality and soft light to your living space. Here are some of the best.
Disguise your little one with the help of a themed costume
From avocado halves to hoppy bunnies, costumes speak to every child's unique spirit. And we've collected our favorite options.
The Galaxy S20 Ultra's Space Zoom camera is amazing and a bit creepy
The Galaxy S20 Ultra supports up to 100X zoom, which Samsung calls Space Zoom, but is it any good? Can a phone really product usable photos at 100x zoom? We've got our Galaxy S20 Ultra already so join us to find out!
Go bird watching with these excellent binoculars
A quality pair of binoculars lets you look down the hiking trail, or spot that bird you've been searching for! These are the best.