App Store Now Worth More Than All of RIM
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As if RIM wasn’t in enough trouble already these numbers really won’t make them feel better, according to writer and smartphone market analyst Brian S. Hall Apple’s App Store alone is worth more than all of Research In Motion, the guys behind BlackBerry devices. That’s pretty interesting. Hall noted that with the current share price RIM is worth $7.04 billion at the same time however the Apple Store is worth more than 7.08 Billion dollars.
With 2011 drawing to an end, things really look bleak Research in Motion, the guys behind BlackBerry, Co-CEOs Michael Lazaridis and James Balsillie have led the company from a major player on the smartphone market into technological obsolescence and obscurity.
If RIM was hoping that 2012 was going to be the year of their revival then they really need to start changing their strategy, the company recently announced that their next major device, BlackBerry 10, won’t stock start shipping until the second half of 2012 — an eternity considering the Android and iOS devices set to be released before then.
RIM’s stock is now trading at 52 week lows, marking a 75% loss year-to-date, and finished last week with a total value of $7.04 billion. To put that into perspective, the entirety of Research in Motion is now worth less than Apple’s App Store alone.
If the company can’t correct itself after a year like this, what’s it going to take?
