Tomorrow, the fate of Research In Motion will be determined
Tomorrow marks Research In Motion's annual general meeting in Waterloo.
The word "pressure" comes to mind. Tough questions will be asked and anything less than perfect answers will snap the fragile company in half. Investors and consumers alike are fed up with hardware and software delays and "half-baked" products. The BlackBerry maker, a pioneer in the smartphone field, is now clinging to lifelines. This AGM is the company's last real chance for redemption.
A lot is expected of RIM: first, shareholders want there to be only one CEO and one chairman. Second, consumers want BlackBerry smartphones that can compete with Apple's iPhone and Google's Android, and they want them now. Third, investors want answers: how do you plan to turn yourself around? How do you intend to stop the bleeding? When is your hardware and software coming out, and what makes it half as good as competing products?
The company, which recently laid off hundreds of employees due to slashed profit forecasts, needs to get its head out of the sand and step up to the plate. With a stock sitting below $30 after a high of $140 just a couple of years ago, RIM needs to stop promising and start delivering.
