If You Have RIM Stock, It’s Dropping As We Speak

Yesterday, RIM reported [Warning: PDF] some really horrific numbers. Here’s the highlights. The company posted 13.3 million units sold in the latest quarter, down from 14.9 million in the previous quarter. And in the North American market, its share of sales fell to 16.5% from 41.3% in the year earlier period. RIM also lowered its guidance.

Translation, the company is in free fall with no end in sight. The net result is that their stock is down 15% as I type this.

I hate to use a cliche, but it’s RIM’s Waterloo moment. If they want to be something other than an afterthought in the tech universe, they need to turn this ship around because right now, it’s pretty clear that they getting their butts kicked by Google and Apple and they have no response for that.

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