New Blackberry Chief Thorsten Heins Flops On Wall Street With His New Video, Mocked By Many
Blackberry has installed a new chief, Thorsten Heins, hoping to turn around its dismal results as a company and Heins released a 7 minute video hoping to impress wall street investors. Instead, he was called "delusional" and mocked by thousands as a flop as he meandered around in his video with unimpressive goals and unrealistic statements and was "not particularly compelling," according to Barclays Capital analyst Jeff Kvaal.
The video was intended to deliver a solid statement by the company showing it can turn itself around and to highlight the newly installed CEO but instead was met by fierce laughter and equally dismal belief that the company even thought this would be a good idea.
"It was delusional in terms of the way he tried to position the company," said Charlie Wolf of Needham & Co. "This guy is calling a spade a four-leaf clover." Some have joked he was as slow as the Blackberry O/S.
Sales of Blackberry products have plummeted and its stock dropped another 8.5% to $15.56 after the video, down from $62.69 last year. The Canadian company, Research In Motion, which manufacturers Blackberries, has struggled to keep up with new technologies and appealing smartphones ever since Apple released the iPhone. Since then Android devices have come out proving to be hugely successful also while Blackberries remained on the slower 2G network with no touch screens and limited apps. In 2011 Blackberry finally released its first 3G phone and it also released the "Playbook" hoping to cash in on the tablet craze, but with no major wireless carrier supporting it, it failed miserably also.
So far the best selling tablets are Apple's iPad and Samsung's Galaxy Tablet.
"I mean, we always think ahead, we always think forward, we sometimes think the unthinkable, and that is fantastic," Heins, shown in front of a BlackBerry banner in a charcoal gray suit, said in a monotonous, halting manner. This comment brought ironic laughter from many, and on it's YouTube video release of the video, only 32 people have liked it so far.