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RIM co-CEOs quit

23 January 2012, 12:10 Duncan Alfreds

Cape Town - Research In Motion's CEOs Mike Lazaridis and Jim Balsillie have resigned, according to reports.

The Guardian reported on Monday that the co-CEOs of the BlackBerry maker have been under significant pressure from investors concerned at the firm's declining US market share.

"There comes a time in the growth of every successful company when the founders recognise the need to pass the baton to new leadership," Lazaridis said.

The company has been under pressure from Android-powered devices which are dominating the smartphones market in developed countries, though BlackBerry continues to show strong growth in countries like South Africa.

Lazaridis and Balsillie built the company into a global player since 1985 and will remain board members.

RIM currently has around 70 million BlackBerry subscribers around the world, but has been accused of missteps including the poor sales of its highly touted BlackBerry PlayBook, which failed to make an impact against the highly successful Apple iPad.

RIM has been fighting market analysts' predictions saying the company was on the decline.

"We're in the fastest growing segment in the fastest growing industry, we have 70 million subscribers; we continue to show growth quarter after quarter," Robert Bose RIM managing director for Benelux, Central Europe and Africa told News24 recently.

The company has also launched the BlackBerry 7 operating system which received the evaluation assurance level 4+ for new devices.

"Security is one of the most important considerations for enterprise customers and we are proud that BlackBerry 7 OS has earned this rigorous certification," said Scott Totzke, Senior Vice President, BlackBerry Security at RIM.

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