RIM stock price continues to tumble
22nd Sep 2011 | 10:45
New five year low for the under-fire brand
RIM's stock price has taken another hit as the company looks to turn its fortunes around following under-par financial results.
The BlackBerry maker has seen its market share decline rapidly in the US, one of its key markets, and while it remains buoyant in other territories (such as the UK, where it's incredibly strong in the pre-pay markets) the Canadian firm still has suffered a stock decline.
The price dropped to $21.54, a level RIM hasn't seen since July 2006, when the company was creating super-business handsets like the BlackBerry 8707 (pictured below).
From there, the company saw a meteoric rise to $144.56 per share in June 2008, off the back of a more fashionable and stylish range of phones like the Bold 9000 and the Pearl 8110, which slimmed down the chassis and brought a more modern OS to the market.
But despite the new range of BlackBerry OS 7 devices doing well (the Bold 9900 being one of the hottest smartphones around at the moment) the company still needs to show its future devices are going to compete with the likes of the iPhone 5 and the next wave of top-end Android phones.
RIM has already hinted at it will cut the price of the Playbook after it performed 'well below expectations' and continues to work on QNX devices in an attempt at bringing a next-gen smartphone performance to its range.