Marvin Ryder explains Blackberry’s situation

Shareholders of Blackberry have voted to officially change the company’s name from Research in Motion at its annual general meeting today.

The adoption of the Blackberry Moniker, which has been used since the launch of the company’s latest Smartphones, comes as the Waterloo-based tech company tries to survive in a competitive market.

Blackberry’s chief executive, Thorsten Heinz told shareholders today that the company is in the second stage of its turnaround, and that stage three includes profitability. Blackberry shares have been hammered after the company reported financial results that fell short of expectations.

Blackberry executives had a lot of explaining to do at today’s annual Shareholders’ meeting, after the Smartphone maker posted an unexpected loss in its latest quarter.

Marvin Ryder from the Degroote School of Business explains.

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