Research in Motion (RIM) was founded in 1984 and launched the first Blackberry device in 1996. It dominated the business smartphone market with the secure Blackberry network. However, RIM struggled in recent years as the iPhone and Android gained popularity. Losing market share and facing financial losses, RIM laid off over 2,000 employees in 2011 as its stock price dropped significantly. The company hopes its new products and leadership can help it transition successfully in the increasingly competitive mobile market.