RIM (RIMM) Looking to Invest $100M to Foster BB10 Developer Community
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Research In Motion (Nasdaq: RIMM) shares are ticking higher following reports that it is planning to invest $100 million to grow its developer community for the BlackBerry platform.
The headlines come from TechCrunch, citing Asian tech blog e27. The announcement was made at Blackberry 10 Jam World Tour on Monday.
Many have questioned the motive following announcements that RIM is planning on making cost cuts to the tune of $1 billion over the next year. But, with BB10 its next great hope, RIM needs to pull out all of the stops.
Shares are down 4.3 percent, well off of intraday lows.
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The headlines come from TechCrunch, citing Asian tech blog e27. The announcement was made at Blackberry 10 Jam World Tour on Monday.
Many have questioned the motive following announcements that RIM is planning on making cost cuts to the tune of $1 billion over the next year. But, with BB10 its next great hope, RIM needs to pull out all of the stops.
Shares are down 4.3 percent, well off of intraday lows.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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