Plot
In Waterloo, Ontario in 1996, Research in Motion (RIM) CEO Mike Lazaridis and his best friend and co-founder Douglas Fregin prepare to pitch their "PocketLink" cellular device to businessman Jim Balsillie. Their pitch is unsuccessful, but after Balsillie is fired from his job due to his aggressive ambition, he offers to invest $20,000 for 50% of the company and a position as CEO. Lazaridis, prompted by Fregin, initially declines Balsillie's offer, but after confirming Balsillie's suspicion that their $16 million deal with USRobotics was in bad faith, they bring Balsillie in as a co-CEO with Lazaridis and sell him a 33% stake in RIM for $125,000. After joining RIM, Balsillie discovers that the company is in a dire financial position and he mortgages his house to add a cash infusion to make payroll.
Balsillie arranges a pitch for the PocketLink with Bell Atlantic and forces Fregin and Lazaridis to build a crude prototype overnight, which he and Lazaridis take to New York. Lazaridis forgets the prototype in their taxi, leaving Balsillie to attempt the pitch alone. Lazaridis recovers the prototype at the last second and finishes the pitch, and they rebrand the PocketLink as the "BlackBerry", which becomes massively successful.
In 2003, Palm Inc. CEO Carl Yankowski plans a hostile takeover of the immensely successful RIM, forcing Balsillie to try to raise RIM's stockprice by selling more phones than Bell Atlantic's (now Verizon Communications) network can support. This crashes the network, as Lazaridis had warned, so Balsillie poaches engineers from around the world to fix the problem, as well as hiring a man named Charles Purdy as RIM's chief operating officer to keep the engineers in line. Purdy's employment upsets Fregin, who values the casual and fun work environment he and Lazaridis had created. The new engineers fix the network issue under Purdy's strict management, and RIM avoids Yankowski's buyout.
In 2007, RIM's upcoming pitch of the BlackBerry Bold to Verizon is thrown into chaos when Steve Jobs announces the iPhone, much to Lazaridis and Fregin's irritation. Balsillie, a hockey fan with a long-term ambition of owning an NHL team, is occupied with trying to purchase the Pittsburgh Penguins, forcing Lazaridis to pitch the Bold with Fregin instead. When it goes poorly, he panics and impulsively promises them the BlackBerry Storm, a touchscreen device. As Lazaridis finally agrees with Purdy's suggestion to outsource the labor of the Storm to China, he insults Fregin during an argument. Fregin later quits RIM as a result.
Balsillie becomes nervous when he sees the iPhone's projected sales and tries to arrange a meeting with the CEO of AT&T, only to learn that the Penguins sale is being finalized that day. He prioritizes the Penguins but is rejected when the NHL owners reveal knowledge of his plan to move the team to Hamilton, which they learned of through his boasting to Yankowski. The US SEC raid RIM after learning that Balsillie hired the engineers in 2003 with illegally backdated stock options, threatening Lazaridis with legal action. Balsillie misses his chance to meet with AT&T's CEO, who snubs Balsillie by hinting that AT&T's partnership with Apple is predicated on the fact that data usage has superseded phone minutes as a priority. Balsillie returns to RIM to find that Lazaridis has exposed him to the SEC, leaving Lazaridis as the sole CEO of RIM.
One year later, the Storms arrive from China, but Lazaridis finds them to be laden with bugs and can hear buzzing when he holds one to his ear. As he begins manually fixing the buzzing phones one by one, the closing titles reveal that the Storms were almost universally inoperable and Verizon sued RIM to cover the financial loss. Lazaridis resigned as CEO in 2012, Balsillie avoided jail, and Fregin secretly became one of the richest men in the world by selling his stock in 2007. At the height of RIM's success, BlackBerry phones made up 45% of the cell phone market; today their market share is 0%, and BlackBerry phones are no longer produced.
