On June 19, 2008, shares of Research in Motion stock established an all-time high at $147.55. At the apex of its powers, BlackBerry (NASDAQ:BBRY) controlled half of the smartphone market, and Wall Street traders then also applied an $82.6 billion market capitalization price tag on the corporation. A highly circulated 2008 photograph of presidential candidate Barack Obama and his trusted BlackBerry handset captured the essence of this nascent smartphone movement. BlackBerry was once the preferred domain of political officials, corporate bosses, and IT professionals, who gravitated toward the brand for its functional engineering and ironclad security features.
In more recent times, BlackBerry’s spat against carrier T-Mobile (NYSE:TMUS) has captured just how far the mighty have fallen. BlackBerry has arrived at its own Waterloo after failing to serve consumer demand. Prospective investors should avoid BlackBerry shares. Going forward, BlackBerry will remain all but irrelevant when juxtaposed against the dominant iOS-Android mobile duopoly.
Great offer for BlackBerry customers
In February, T-Mobile targeted its BlackBerry customers with a special offer to exchange their old handsets for the Apple (NASDAQ:AAPL) iPhone 5S. T-Mobile pitched the exchange as an “upgrade” while also praising Apple for its “powerful communications” and “productivity apps.” The T-Mobile deal granted its BlackBerry customers rights to purchase the iPhone 5S with no annual service contract through the no-money-down Simple Choice Plan. BlackBerry customers who made the move toward the iPhone 5S could pay off their new handsets in 24 separate installments at $25 per month.