In 1984, Mike Lazaridis and Doug Fregin started a consulting company Research In Motion(RIM). The firm designed and developed several hardware/software products for the local wireless communication industry. In 1989, Lazaridis developed mobile messaging and a wireless e-mail gateway service called RIMgate.
In the early 1990s, the company designed a portable, low-cost, and powerful Radio modem card that consumed less power. It was one of the revolutionary products at that time. During this time, RIM started developing PAGING devices for Ram Mobile Data Company.
RIM developed the first two-way pager Inter@ctive 900 for RAM mobile. In 1996, the company released RIM 900, its first keyboard-based device. Within a few months, RIM introduced another compact two-way paging device called BullFrog.
RED QUEEN EFFECT — For years, Lazaridis and his team had been working hard. Yet, they weren’t growing. They were struggling financially. Lower profit margins, sudden order cancellations, and payment delays squeezed the company. Lazaridis realized that being at the mercy of big companies was the sole reason for financial struggles. He had to find a way out of that Red Queen Effect.
The Solution — Lazaridis perceived that the solution was to design & develop a product and market directly to consumers. Become a B2C company. He formed a team to develop their consumer product.
The company’s experience was in the wireless communication industry. What product should RIM design, develop, and launch?
How to proceed further?
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