They may have been powerful enough in size and monetary resources, but not in process, structure, or vision. RIM (later BlackBerry) was a tech company that wasn't really run like a tech company - it was run like an insurance company, with a full fledged bureaucracy governed by their legal department. And as a result, when competition from Apple and Google came, they couldn't pivot to compete beyond a snail's pace and faded into the sunset very quickly.