MONTREAL - The bleeding continues unabated at once-high flying Canadian tech giant Research in Motion.
On Monday Brian Wallace, head of Digital Marketing, quit to join Samsung. That follows layoffs, a medical leave for COO Don Morrison and the departure of the head of marketing.
On Monday the shares were hammered down again, down five percent, leaving the shares hovering at around $26 a share, about half of its high for this year.
Tech-expert Elias Makos came into studio to discuss the change of fortunes for the tech giant.
He told Todd van der Heyden that while RiM's sales are stagnant, its competitors are flying high.
"They rushed out buggy products because they were so far behind," says Makos. "They relied on that one-trick pony the Blackberry. This isn't the ketchup business; in the technology business you can't make the same product for 50 years in a row."
Makos pointed out the irony of a company with two CEOs laying off workers for being redundant and while sales remain strong in emerging markets, Android and other platforms are increasingly attractive to many buyers.
