RIM (RIMM) CEO Thorsten Heins made a commitment at the Annual General Meeting on Tuesday that he will utilize the new generation of BlackBerry smart phone which will be launched next year to the revive this struggling company.
But, except the confidence in BlackBerry 10 smart phone which is scheduled to launch in the first quarter of next year, Heins did not mention any other way of reversing RIM’s fate to the disgruntled shareholders. After his speech, RIM stock price plunged almost 5%.
In Tuesday’s regular trading on the Nasdaq, RIM stock price lost $0.38 to close at $7.29, a with a huge decrease of 4.95%. In the after-hours trading, RIM stock price rose $0.03, or 0.41% to $7.32. Over the past 52 weeks, RIM stock traded as high as $33.54, and as low as $7.14, and the current stock price is 78.26% off the top. The company’s stock price once reached $148.13 in the past. In this case, Heins identified the frustration of the shareholders, given the decision to postpone the launch of BlackBerry 10 phone to after the crucial holiday shopping season.
Hynes said postponing the release of 10 Blackberry phone reflects RIM’s determination and this is also to ensure that this phone can achieve great success. He said in an interview after the shareholders’ meeting that they are working on BlackBerry 10 phone around the clock, and will prove that it will help them to revitalize this company.