Alain Sherter, writing for CBS Moneywatch:
In many ways, BlackBerry’s biggest mistake stemmed from its previous success. As Apple was launching the iPhone in 2007, Research in Motion (as BlackBerry was called at the time) was enjoying surging profits and sales. The company had introduced its first BlackBerry four years earlier and attracted millions of subscribers. A phone with a camera and multimedia features geared to consumers, the Pearl, soon followed. Its BBM messaging service, which to this day has more than 60 million users, was ubiquitous, while the company’s co-CEOs, Michael Lazaridis and Jim Balsillie, were feted by the media as architects of the emerging mobile world.
Amid this success, BlackBerry became wedded to its products and business model, failing to comprehend just how thoroughly the iPhone and its imitators would upend the industry.
Sounds like a classic case of creative destruction.