BlackBerry Crushed.

RIM's failure to keep up with Apple has turned it into a tech basket case

Javier Sirvent for TIME

RIMís failure to keep up with Apple has turned it into a tech basket case

Remember when BlackBerry was cool? Just a few years ago, the Research in Motion (RIM) smart phone was the premier mobile gadget on the market and a veritable tech status symbol. The BlackBerry was so ubiquitous among Wall Streeters, corporate types and Capitol Hill staffers that it earned the nickname CrackBerry.

Now it's become the highest-profile tech failure in recent memory. On June 28, RIM reported a $192 million adjusted net loss and said it plans to lay off 5,000 people--about one-third of its workforce. That follows layoffs of 2,000 workers last year. RIM also said its much ballyhooed new operating...

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