Sterne Agee Says RIM's (RIMM) BB10 Unlikely to Slow iPhone/Android Momentum
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Rating Summary:
0 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 21 | Down: 24 | New: 29
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Sterne Agee weighed in on Research In Motion Ltd. (NASDAQ: RIMM) following yesterday's demonstration of the upcoming BlackBerry 10 operating system and prototype smart phone although the company didn't specify a release date.
"While we believe RIMM is making some progress, we are unsure if BB10 will be enough to slow down strong iPhone and Android momentum," analyst Shaw Wu said.
On its app strategy, the company is giving away thousands of prototype BB10 smart phones to developers and promising at least $10,000 in sales for any app that BlackBerry licenses. Stene Agee estimates BlackBerry has about 85,000 apps compared to 600,000 for iOS and 450,000 for Android.
The firm maintained their Neutral rating on RIM.
For an analyst ratings summary and ratings history on Research In Motion Ltd. click here. For more ratings news on Research In Motion Ltd. click here.
Shares of Research In Motion Ltd. closed at $13.48 yesterday, with a 52 week range of $12.45-$48.95.
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"While we believe RIMM is making some progress, we are unsure if BB10 will be enough to slow down strong iPhone and Android momentum," analyst Shaw Wu said.
On its app strategy, the company is giving away thousands of prototype BB10 smart phones to developers and promising at least $10,000 in sales for any app that BlackBerry licenses. Stene Agee estimates BlackBerry has about 85,000 apps compared to 600,000 for iOS and 450,000 for Android.
The firm maintained their Neutral rating on RIM.
For an analyst ratings summary and ratings history on Research In Motion Ltd. click here. For more ratings news on Research In Motion Ltd. click here.
Shares of Research In Motion Ltd. closed at $13.48 yesterday, with a 52 week range of $12.45-$48.95.
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It's the platform, stupid.
Michael Long on May 2, 2012 10:41 AMMark as Spam | Reply to this comment
Problem is, RIM thinks they're in the mobile phone business. They're not. They think they're in the handset business. They're not.
They're in the communications business.
The value behind the BlackBerry phone system is BlackBerry Messenger. It, and the backend services, are what make the platform valuable. Without it, a BlackBerry is just a so-so phone with a decent keyboard.
To survive, RIM needs to roll out a secure, cross-platform messaging system for use on existing smartphones and tablets. That's iOS. That's Android. And that's Window's Phone.
See http://www.iSights.org/2012/04/rim-would-prefer-to-license-blackberry-os-wrong.html