The Invention of the Smartphone
In 2004, a Canadian company, Research-in -Motion invented the Smartphone, named BlackBerry. This novel portable communication device was built by Mike Lazaridis and marketed by Jim Balsillie, the co CEO’s of Research-in-Motion. It was a very popular device and sold to businesses in the thousands. The company reached sales of $19,907 billion in 2011 and made a number of people rich beyond their dreams.
Then disaster struck. The company was faced by two legal suits. They consumed a lot of management time and energy, and ultimately cost it large fines. So, the company was unable to meet the competition developed by Steve Jobs at Apple. Jobs introduced the Apple iPhone in 2007. To make the iPhone appealing to consumers, Steve added a camera and the ability to record and play music. In due course, the iPhone took over the smartphone market, and forced the discontinuation of the BlackBerry. Read the full story in my book: Where there’s a Will, There’s a Way.
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