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RIM Has a Bad Case of Yahoo-itis

Reuters says RIM “turned down takeover overtures from Amazon.com Inc and other potential buyers”

Amazon, which hired an investment bank for the purpose, according to Reuters, and Microsoft together with its buddy Nokia, according to the Wall Street Journal, have kicked the tires at RIM.

Reuters says RIM "turned down takeover overtures from Amazon.com Inc and other potential buyers" without knowing who those others might be before the Journal waded in. It still thinks Amazon and RIM are talking.

RIM's board and its co-CEOs, behaving like Yahoo's, apparently prefer to try to catch the falling knives by themselves.

No formal bids were supposedly made by anybody and the Journal says it's "unclear how extensively RIM has been involved in any takeover discussions with Microsoft and Nokia."

RIM posted lousy results last week; can't deliver the new operating system on which its future depends until the second half of next year; and its stockholders would like to see the heads of co-CEOs Jim Balsillie and Mike Lazaridis impaled on stakes on either side of RIM's front door. Their investment is down 78% this year.

To address the crisis Balsillie and Lazaridis have vaguely mentioned licensing and renting out the company's proprietary network. RIM has reportedly approached Android licensees Samsung and HTC about licensing its unfinished new QNX-based OS, but reportedly got rejected. The OS is in its seven-inch PlayBook tablet, a market failure currently being sold by retailers for a cut-rate $200-$400 depending on storage.

The Journal says Balsillie doesn't want to think about selling the company until its next BlackBerry is out. Reuters points to the board. Valuation at this point is dicey, and expected to fall further.

Late Thursday the company put out a statement denying allegations that it lied when it said its new operating system is waiting for the delivery of a LTE-based dual-core chipset. The tech blog Boy Genius Report says a high-level RIM staffer told it the company can't get e-mail and Blackberry Messenger to work properly, making it worse than antique version of iOS and Android.

More Stories By Maureen O'Gara

Maureen O'Gara the most read technology reporter for the past 20 years, is the Cloud Computing and Virtualization News Desk editor of SYS-CON Media. She is the publisher of famous "Billygrams" and the editor-in-chief of "Client/Server News" for more than a decade. One of the most respected technology reporters in the business, Maureen can be reached by email at maureen(at)sys-con.com or paperboy(at)g2news.com, and by phone at 516 759-7025. Twitter: @MaureenOGara

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