BlackBerry Service Crashing Again
Almost exactly a year ago, Research In Motion Ltd. (NASDAQ: RIMM) experienced a network outage that lasted three days and affected users around the world. This morning the company is experiencing a similar outage affecting users in some parts of…
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The company has issued a brief statement, cited in The Wall Street Journal, calling the problem a “service issue impacting some users in Europe, the Middle East & Africa. All relevant support teams are working to resolve the issue. We apologize to any customers who may be affected.”
RIM did not offer any reason for the problems.
The outage probably could not have come at a worse time for the company. The iPhone 5 from Apple Inc. (NASDAQ: AAPL) goes on sale around the world today, and the impact on RIM would have been serious even without the network issue. The company has been losing market share for years to Apple and smartphone makers that use the Android operating system from Google Inc. (NASDAQ: GOOG). Today’s outage will only speed up the losses.
RIM’s shares closed down more than 4% yesterday, at $6.91, and are down another penny in premarket trading this morning. The stock’s 52-week range is $6.33 to $24.74.
Paul Ausick
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Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.
He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.
