Research in Motion (RIM) appears to be an overstressed US$3.5B company that is failing to articulate why customers should select the BlackBerry, according to Blackfriars’ Marketing. Moreover, it’s not aiming for the future market.

An anlysis of RIM’s earnings call transcript caused some things to jump out for the author, Carl Howe. First, RIM, a veteran company in the business, sold only 3.1 million phones this quarter compared to an estimated 1.25 million iPhones by Apple, a newcomer to the business.

Second, RIM sells through 325 carriers and Apple through one. That seems impressive, but it "must put incredible strain on a US$3.5 billion annual revenue company," Mr. Howe noted.

Third, RIM has overestimated its ability to connect with consumers, "RIM is going after consumers with similar products and features it has used to capture enterprise customers. But consumers aren’t businesses, and they buy on more than just features," according to Mr. Howe.

Finally, RIM has spread itself too thin. While Apple is focusing on just one "carefully crafted" model, Mr. Howe observed that, "RIM is weighted down by a heavy quiver of Blackberry Curves, Pearls, 8800s, 7200s, and 7100s."

Using an analogy to a great ice hockey player, Mr. Howe concluded, "Wayne Gretsky, Canadian hockey great, claimed, ’I skate to where the puck is going to be, not where it has been.’ RIM is still skating toward the old mobile phone business model, where businesses and carriers dictated standards and devices. But with Apple’s focus and strategic marketing, it is skating to where the mobile phone puck is going in the next several years, where no-muss, no-fuss direct-to-consumer relationships will eclipse those carrier and business-driven ’we know what’s best’ device models."

In the final analysis, unless RIM can articulate why its phone is better for the consumer, it’ll be Apple reporting on huge consumer phone sales. Worse, RIM’s small size compared to Apple will result in any loss of market share being much more magnified.