RIM Shares Rise
Research In Motion (RIM:TOR) the Canadian company behind the successful BlackBerry device saw a sharp rise in share value yesterday after forecasts for subscription growth and strong sales over the holiday period.
Much of the success has been felt with the addition of devices aimed at non-Business users, such as the Blackberry Curve and BlackBerry Pearl devices, which appeal to general phone users who want to keep in touch on the move.
With a huge amount of competition from Apple’s iPhone, companies such as RIM have seen the consumer demand for internet and email enabled mobile devices. In the last few years RIM’s range of devices has improved no end. The BlackBerry Pearl offers email and Internet connectivity to the user conscious of the BlackBerry’s traditional bulky design, by offering wireless functionality in a more traditional mobile phone shape.
RIM’s fourth-quarter subscriber additions where expected to be 15 to 20 percent above forecasts of 1.82m in December.
A Look At The Chart
The chart shows Thursday’s spike, where the stock rose almost 10 percent in value during early trading.
Experts have OUTPERFORM on RIM’s stock, which has been the consensus for the past three months.
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