RIM in Crisis as a Billion Dollars of BlackBerries and PlayBooks Sit Unsold

Illustration for article titled RIM in Crisis as a Billion Dollars of BlackBerries and PlayBooks Sit Unsold

Things are getting dire for RIM, which diffidently announced its new BlackBerry 10 platform earlier this month to an internet full of aggressive disinterest. The latest grim tiding? Trading has been halted on RIM's stock—which is a very bad sign—on the heels of news that its stash of unsold BlackBerry phones and PlayBook tablets has ballooned to a value of just over $1 billion.

RIM is hiring JP Morgan and RBC to "explore options." Its press release states that it's looking to "leverage the BlackBerry platform through partnerships, licensing opportunities and strategic business model alternatives," which could mean anything from looking for ways to get out from under its mountain of unsold product and obligations, to more drastically, preparing to sell itself, in whole or in parts. Not a great sign, especially since we still don't really know when to expect BlackBerry 10.


The world's total refusal to buy current BlackBerry products, along with its absolute nonchalance toward the upcoming BB10 stuff puts RIM in a tough spot. It can downplay its already struggling update and try to convince buyers to buy up the older stock, or it can just eat the massive loss and sing the praises of BB10 and its QNX-based platform.

We'll let you know as more news comes out of RIM, but for now, things don't look great. [Bloomberg via Apple Insider, Business Insider]

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I, for one, use Blackberry phones because that's what I've used for 15 years and I hate change.

Damn kids and your app-touch-screen-ipad-googley flapity-floop.