Research in Motion’s troubles are continuing with news that the company plans on delaying its annual presentation to financial analysts until the release of BlackBerry 10.
Traditionally, the presentation takes place at RIM’s BlackBerry World conference that takes place in May. The main aim of the meeting is to provide information that proves useful for investors and outlines the company’s plans for the upcoming year. With so much up in the air at RIM, it’s not hard to imagine why they’ve elected to withhold the meeting for this round.
“We decided to make BlackBerry World more focused on customers, developers and partners,” RIM spokeswoman Tenille Kennedy said on Tuesday. “We will hold a separate session targeted at the interests of the investment community later this year, once BlackBerry 10 is launched.”
There’s no word on when or where the updated analyst meeting will be held and, with the launch of BlackBerry 10 still very much a mystery, it’s hard to put a finger on it.
Last year, the May meeting saw RIM looking to release its BlackBerry 7 line-up. Its market share in the United States was already dipping, however, and there were rumblings of the company’s downfall making their way through various reports. The share price was dropping to a mark of $48.24 on NASDAQ. Fast-forward to the cusp of this year’s BlackBerry World and the share price is at a staggering $13.89 and dropping.
RIM is scrambling to focus its energies on developers and customers, but at expense to investors and analysts – at least for the time being. The company’s lack of concrete dates and times has to hurt expectations down the road, as shareholders simply don’t know what to expect from the once-powerful institution.
When one considers how fickle and reactionary the investment pool tends to be, one has to imagine that this news won’t go over well. RIM’s prices have already taken a battering and things will probably get even worse before they get better, assuming things get better at all.
For now, RIM needs to point things forward and ensure that BlackBerry 10 is every bit the saviour they say it is. If they can offer a better body of apps to go with a product that actually lives up to the company’s hype, they may see some semblance of recovery. But if 10 goes the way of the PlayBook, the future of RIM won’t be so bold.