RIM rebranded itself as BlackBerry

/ 5 years ago

Canadian based company RIM’s CEO Thorsten Heins announced that the company will no longer use the name Research in Motion and therefore be re-branded as Blackberry.

Heins stated that they wanted to re-invent the company and wanted to represent this by using their product’s brand name. He added,”One brand. One promise. Our customers use a BlackBerry, our employees work for BlackBerry, and our shareholders are owners of BlackBerry.”

RIM/Blackberry also changed their stock symbols too. Currently on NASDAQ it shows BBRY and BB on TSX. RIM started Blackberry in 1999 for business executives but then it quickly secured the market for secure corporation and government email. But in time, competition rose and BlackBerry has been going further behind, leaving as little as 3.4% global share in the forth quarter, a dramatic drop in comparison to 20% of market share the company had three years ago. The stock value of the company was down to 90% in 2008.

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There were also a rumour of Lenovo in talks with RIM for a buyout, but Lenovo quickly clarified that they did not have such talks with the Research in Motion.

Source: The Verge | Live Mint

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