RIM Concerns Mount as Stock Tumbles

Lagging smartphone sales, a lacklustre tablet, and upper management all blamed for iconic Canadian company's downturn.

Shares of Research In Motion plummeted today after the company said its BlackBerry smartphones aren't selling well, prompting some analysts to call on the Waterloo, Ont.,-based company to ditch one or both of its well-known CEOs or adopt the Android operating system. RIM shares have shed 11 per cent of their worth on both the NASDAQ and the main German stock exchange. The dips were blamed on slow sales in the U.S. and Latin America and a less-than-stellar debut for RIM's tablet computer, the PlayBook. Compounding concerns is a lack of faith in co-CEOs Mike Lazaridis and Jim Balsillie's handling of the Canadian tech giant.