In January 2013, Research In Motion announced that it would change its name to BlackBerry ( after the widely known smartphone device. Executives made the announcement in tandem with its new mobile platform, BlackBerry 10, hoping that they could revitalize the declining brand. Despite the change, BlackBerry did not follow up with a significant change in strategy, and the stock price continues to suffer as a result, said James Moorman, an analyst for S&P Capital IQ. )
"The fact is that a name change doesn't matter when no one buys your new hardware. So in this case it was a bust," Wedge Partners Principal and Senior Research Analyst Brian Blair told Fortune.