MONTREAL — Research In Motion is failing in the “dynamic” consumer market and should consider putting itself up for sale or spinning off its patent portfolio into a separate company, says an investment bank with holdings in the struggling BlackBerry maker.
“The company is broken and it has to be fixed,” said Vic Alboini, chairman and CEO of Jaguar Financial Corp., which holds less than five per cent of RIM’s shares.
The smartphone maker can’t rely on its upgraded BlackBerrys now out for sale or a new generation of BlackBerrys expected out next year, Alboini said Tuesday from Toronto.
“While few would question the email and security capabilities of RIM’s BlackBerry platform, the reality is that RIM has failed to develop the multi-purpose device that meets the requirements of today’s dynamic consumer landscape,” Jaguar Financial said in a statement.
Jaguar is recommending that RIM’s board of directors appoint a special committee to ensure that shareholders get maximum value for their holdings in the Waterloo, Ont., company.