Attorney Michael de Broglio on: South Africa, Law, Politics, Attorneys, Sport, Photography, Technology, Gadgets, Media, Crime, Road Accidents Fund,
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Firstly, we were told that BlackBerry was about to be brought out. Business magazines warned that the terms of the buy-out were so speculative that the deal was unlikely to take place. It never took place.
The share is one of the most spectacular losers of the last five years and now, with $1 billion having to be invested into the company, in an effort to turn it around, the CEO has also been fired. It is amazing how a company, whose product was so dominant only three or four years ago, is now a complete disaster and will no doubt feature in business manuals in the years to come as one of the most epic failures of all time. How some people can even buy the share at $6,50 simply amazes me, because this is a sure-fire loser for the next few years. There was a time when its share price was $230 and it slid, over six years, to the current $6,50.
Posted by Michael de Broglio on Tuesday 12-Nov-13
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Comments
Cornelie said:
on Wednesday 13-Nov-13 09:50 AM
If you have a company like phones etc. you need to stay on top of technology you need to make sure you are better than the next thing on the market that way your company will survive
Lizanne said:
on Wednesday 13-Nov-13 08:37 AM
Extremely disappointing. I agree with Juliet, it is shocking to know how quick a business can go downhill. I had a blackberry almost and never again......just had problems all the time. IPhone or Samsumg is the way to go these days and it has taken over.
Iola said:
on Wednesday 13-Nov-13 07:44 AM
if you want your company to strive you have have to learn to adapt to the market and it seems like Blackberry has not learned this strategy yet
Lucretia said:
on Tuesday 12-Nov-13 04:30 PM
This is a typical example that there are no guarantees in life, only death and taxes. One can be flying with the eagles one minute and soaring with the turkeys the next.
Bianca said:
on Tuesday 12-Nov-13 01:29 PM
This must be extremely disappointing for investors. It is extremely scary to see how quickly a successful company can simply just turn into nothing. A couple of months ago our family experienced exactly the same thing with a company simply going into liquidation overnight - very scary how quick things can change.
Melissa said:
on Tuesday 12-Nov-13 12:43 PM
One of the biggest mistakes that Blackberry has made is hat the BBM service they had was one of the biggest benefits is now available on various cell phones and this is leading to blackberry users to keep their BBM and just buying a new phone.
Thabitha said:
on Tuesday 12-Nov-13 12:38 PM
This is bad news more people are changing to something else BlackBerry is down and out.
Sorea said:
on Tuesday 12-Nov-13 12:32 PM
Well that is a bit of a slide towards infamy.
Juliet said:
on Tuesday 12-Nov-13 12:30 PM
It is an eye-opener to realize how quickly a successful business can go downhill and examples of big companies like this make it relevant because everyone had a Blackberry a few years ago. This also highlights how fickle and consumer-obsessed human beings are, always wanting the next new, faster thing. And it is not only about products, this can be related to relationships too, everyone wants a younger, fitter partner!
Brenda said:
on Tuesday 12-Nov-13 12:28 PM
I am not surprised. I have become more and more disappointed with BlackBerry and I simply cannot wait to upgrade to Android. BlackBerry has lost a lot of users and more and more people are switching to Samsung and Apple and I don't think it will be much longer before BlackBerry goes bankrupt. No one is interested in BlackBerry anymore, so much so that they are willing to pay more for Apps than have to sit with a BlackBerry.
Lourien said:
on Tuesday 12-Nov-13 12:27 PM
When a company is at the top of the log, its always harder to stay at the top, as all the clients expectations are always increasing and changing and at the end of the day, the supplier that satisfies the most of their clients needs will benefit the most, increasing their company at the benefit of another.
Angelique said:
on Tuesday 12-Nov-13 12:19 PM
Surely if someone can invest 1 billion dollars in something, they must believe they can turn it around. So perhaps one should invest - after all what do you have to lose a whole couple of $6,50??? Poor CEO, Must be nice to get fired just before December! (NOT!)
david said:
on Tuesday 12-Nov-13 12:15 PM
completely destroyed by apple, samsung, and the smartphone revolution.
Johannesburg based attorney specializing in personal injury matters including Road Accident Fund claims and medical negligence matters. My interests include golf, reading and the internet and the way it is constantly developing. I have a passion for life and a desire for less stress!
