RIM's stock priced jumped by 10 percent Tuesday when the Boy Genius Report reported a possible Samsung buyout.
(Image Source: Boy Genius Report ) BY ADNAN S. KHAN ANCHOR CHRISTINA HARTMAN After a year of falling stock prices and failed products, there appeared to be a ray of hope for Research in Motion, or RIM: a rumored buyout by Samsung. Alas, the acquisition wasn’t meant to be. PC Magazine reports. “Rumors swirled Tuesday after the technology blog Boy Genius Report, citing an unnamed source, reported that Samsung was interested in RIM. But Samsung said the rumors are untrue - emphatically stating that it has no plans to purchase the Canada-based BlackBerry maker.” The rumors did help jump RIM’s stock price by 10 percent. Even after the rumor-busting, eWeek reports, analysts still seem to have a positive feeling about RIM. The firm is planning a number of changes in order to be successful. According to eWeek, RIM is planning on licensing BlackBerry 10, is about to appoint a new chairman of the board and is looking to a possibility of a major company restructuring. All of which is a valiant effort. But many in the media say the problems RIM is facing are more fundamental than leadership or ownership. One of the problems, according to TechCrunch, is its email. “For most of this decade, IT shops have been able to send out fleets of BlackBerry products without concern simply because there was nothing better for email and messaging. Over the past three years, however, that claim has gone completely out the window.” The other problem RIM faces -- apps. InformantionWeek says Blackberry 10 will have a hard time catching up to the competitors. “Between Android and iOS, there are more than one million active applications available for download … Just look at Microsoft. It has more than 50,000 apps available to its Windows Phone platform and the smartphone operating system still hasn't gained much traction with consumers, enterprises, or developers. RIM will effectively be starting at zero.” All doom and gloom aside, CNBC says the company still has some solid credentials. “It is interesting, when talked to people and they try to say, ‘what is RIM?’ You wanna come out and you wanna say RIM is more like – you know – Palm. But you know the reality is that they have good cash flow, they’ve got a balance sheet so people say nah its more like Yahoo.” The Boy Genius Report has since backed off the rumored Samsung buyout, but still insists RIM is a ‘solid takeover target.’