The company failed to adapt. For years it had the upper hand in the smart phone market. In fact it was the only player in that market for years and it failed to respond to consumer demands, it failed to compete with upcoming players like the iPhone and this all boils down to becoming complacent.
Research In Motion shares are getting hit hard Monday after Morgan Stanley analysts expressed in stark terms that the company faces bleak choices.
“We believe the fundamental story at RIM is essentially broken,” Morgan Stanley wrote.