RIM's (RIMM) Effort to Port Apps to BB10 Ends with Solid Results

January 15, 2013 9:19 AM EST
Research In Motion (Nasdaq: RIMM) shares are lower in early trading amid strong numbers from two app events over the weekend.

RIM held Portathons, aimed at porting over apps from other platforms to the BlackBerry 10 operating system. According to RIM's VP of Developer Relation, Alec Saunders, about 15,000 apps were ported over the weekend (about 37.5 hours).

Despite a plop at the end of December following quarterly results, RIM shares have been on a tear recently. Shares have nearly doubled from $8 at the end of October up to $14.95 at Monday's close.

BlackBerry 10 should be released at the end of the month. Though all 15,000 apps might not be ultimately approved, more than half probably will and that's good news for RIM as it looks to regain a strong position in the consumer and enterprise communications segments.

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