10 Famous Brands That May Disappear Soon
Bangalore: Every New Year awaits the beginning of something new and happy. And with the commencement of the year, 24/7 Wall St releases the name of 10 brands that they predict may disappear in the near future. The predictions so far have been discerning. The brands that were predicted to see the end in 2010 did have to face their gloomy fate, such as Blockbuster, Dollar Thrifty and so on.
However, 24/7 Wall St missed on some companies like Kia, Moody’s who defied their fate and did better than expected.
Let’s have a look at the list of 10 companies that are predicted to perish soon due to one or more reasons like stiff competition, new inventions or because of poor management as reported by Douglas A. McIntyre of Wallet Pop.
1. Research in Motion
The rise and fall of RIM has been a remarkable journey to notice. The company saw a leap in its revenue from $6 billion in 2008 to $20 billion in 2011, and its net income also rose to $3.4 billion in 2011 from $3.1 billion in 2008. However, the company was very late to enter the market and faced tough competition from the already existing smartphone players like Apple, and Google Android phones from different manufacturers such as Motorola in the U.S., Taiwan’s HTC and South Korea’s Samsung. The company replaced its CEO and laid off employees. The recent picture of RIM is not very comforting with its U.S. market share falling to 10 percent last year from 44 percent in 2009, as reported by research group NPD.