- June 14, 2012
- Posted by: Ted Bullen
- Category: High-tech, Innovation, News
At the end of last month, Research In Motion on Tuesday announced that it could (meaning “would’) report its second consecutive quarterly operating loss and said it had engaged Morgan Stanley to help it review its business, which, by interpretation, means a probable effort to sell. This was, and still is bad news for the maker of the Blackberry that once graced the halls of power in the private and public sectors. The stock is down over 80% in the last 12 months.
Today, Nokia announced Thursday that it plans to cut 10,000 jobs by the end of 2013 and will shut down facilities in Germany, Finland and Canada. Despite a partnership with Microsoft and its Windows Phone 7. Nokia has struggled to compete with Apple and the makers of smart phones driven by Google’s Android OS.
With third world markets being projected as the last hope for these former mobile phone titans, it appears that this option will only be a temporary one and that these companies, if they cannot be sold for pennies on the dollar, will follow the path of likes of Digital Equipment Corporation, Polaroid, and others who failed to innovate and lived in denial right up until their demise.