Jan
5
Written by:
Editor
1/5/2009 10:33 AM
For years, Research In Motion has dominated the U.S. market for smart phones, essentially handheld laptops for road warriors. It was a niche market growing five times faster than the standard cell phone space. Then came the Apple iPhone, creating a flood of smart phones from various manufacturers. Canada-based RIM responded in 2008 with new products for business and consumers. The impact of its large investment in research and development and the onslaught of competition surfaced in the summer, as earnings and sales slipped below expectations. RIM has lowered expectations ever since.Jim Balsillie, co-chief executive, remained confident throughout and looks forward to 2009 as the market shifts into the field it pioneered and in which it remains the market leader.
Tags: