Will RIM’s Shares Keep Climbing With BlackBerry 10?
After a sad few years of quick decline, Research in Motion (NASDAQ:RIMM) finally sees some light ahead with the release of its BlackBerry 10 devices, and users finally see some light shined on the device specifications.
A recent history
In just the last 4 years, RIM has seen a slippery downward slide from a 50 percent share of the smartphone market down to less than a fifth that, with 9.5 percent in December 2011, and then down to less than half that, with 4.7 percent in December 2012. Tough competition from Apple (NASDAQ:AAPL), Samsung (SSNLF.PK), and even Nokia’s (NYSE:NOK) smartphone devices did a lot of harm to RIM, but there has been hope that BlackBerry 10 could see the company turn things around.
In the latter half of 2012, more and more news was coming out about the 1st-quarter release of BlackBerry 10 in 2013. Since the summer, when RIM’s shares were floating around an average of $7, shares jumped to more than double the summer value, exceeding $15.30 per share Wednesday morning. Despite the good news on the shares, they are still a far-cry from the prices seen prior to 2011.
Considering the correlation between BlackBerry 10 news and the doubling of share value in the past months, it would appear the new OS and devices are integral to RIM’s immediate success. The new platform is intended to bring RIM to pace with other smartphone manufacturers as well as give RIM an edge on the business world…