Is Samsung Stepping on BlackBerry’s Toes?
The news that former Research in Motion co-chief executive officer Jim Balsillie cut his last ties to the company now known as BlackBerry (NASDAQ:BBRY) hit the company’s stock like a strong uppercut to the jaw.
On Thursday, it was revealed that as of December 31, Balsillie owned zero shares in the company, down from the 5.1 percent stake he had a year ago. At one time, he had been Research in Motion’s third-largest shareholder, Bloomberg reported. BlackBerry shares dipped 6 percent on the news as investors began to wonder why the man who spent twenty years building up the smartphone manufacturer would want to dump his holding entirely.
While the stock reversed some of its losses, shares were once again trading down on another piece of bad news on Friday morning. The Boston-based brokerage firm Detwiler Fenton said in a note, seen by BGR News, that Samsung (SSNLF:PK) had plans to reveal a new enterprise platform at the Mobile World Congress trade show later this month that will be highly competitive with the BlackBerry 10 operating system. This would be a huge blow for BlackBerry, with the company counting big on the enterprise market to boost the adoption of its new smartphones…