RIM Higher as Traders Cheer News of China's Custom BlackBerry (RIMM, CHL)

Shares of Research In Motion (Nasdaq: RIMM) are outperforming the depressed major averages today as news of a China-customized BlackBerry is boosting the stock today. Almost half way through today's trading session, RIMM shares are up 2.5% to $61.72. The DJIA is currently down 0.8%, or 84 points, while the Nasdaq is down 0.3%, or about 6 points.

In a joint statement with its partner, China Mobile (NYSE: CHL), Research In Motion announced that its BlackBerry devices will now support China's "homegrown" 3G wireless network. RIM and China Mobile will also partner with an affiliate of Lenovo Group.

The move comes as a direct attempt to loosen Apple's (Nasdaq: AAPL) soon-to-be tightening grip on the world's largest mobile-phone market. According to estimates coming out of China's government, the country added about 9.3 million mobile users in September, pushing its total user base to an astonishing 719.8 million.

At a meeting in Beijing yesterday, Research In Motion's Co-CEO, Jim Balsillie, called China "an extremely important and strategic market in every respect."

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