"BlackBerry-Only" Policy In Corporate America Is Changing (RIMM)
Tweet
Share
E-mail
Get Alerts JPM Hot Sheet
Join SI Premium – FREE
According to a report from Bloomberg, citing people familiar with the matter, JPMorgan Chase & Co. (NYSE: JPM) may soon allow its employees to use the Apple iPhone for corporate email, providing an alternative to the BlackBerry from research in Motion Ltd. (NASDAQ: RIMM).
The sources state that the firm is testing the iPhone and other smartphone based on Google Inc.’s (NASDAQ: GOOG) Android operating system. JPMorgan has roughly 220,000 employees worldwide and is the second-largest bank in the U.S.
The iPhone is also being considered for use for the employees of Switzerland-based UBS AG, which has more than 63,000 employees.
“There are certainly quite a few employees that have private iPhones, and as a bank we have to ask ourselves if that could be an option for us,” UBS spokesman Jean-Raphael Fontannaz, told Bloomberg.
The BlackBerry has long been the gold-standard device among business customers in the smartphone market, while the iPhone and others were seen as more for the entertainment and use of the general public.
However, Apple and other companies have been making a move on the customers that have for so long been loyal to RIM’s business features. RIM’s stock value is down by a third this year, as the company has face increased competition and threat of being locked out of certain regions around the world due to security issues.
According to the Bloomberg report, JPMorgan would not purchase the iPhone or an Android device for its employees, but would rather allow workers to send and receive corporate email through the devices. The firm currently does supply workers with a BlackBerry handset.
Shares of RIM are down 2.60 percent to $43.85 in midday market movement on Friday, down by more than half from its 52-week high. Shares of Apple are up 63 cents to $263.70.
The sources state that the firm is testing the iPhone and other smartphone based on Google Inc.’s (NASDAQ: GOOG) Android operating system. JPMorgan has roughly 220,000 employees worldwide and is the second-largest bank in the U.S.
The iPhone is also being considered for use for the employees of Switzerland-based UBS AG, which has more than 63,000 employees.
“There are certainly quite a few employees that have private iPhones, and as a bank we have to ask ourselves if that could be an option for us,” UBS spokesman Jean-Raphael Fontannaz, told Bloomberg.
The BlackBerry has long been the gold-standard device among business customers in the smartphone market, while the iPhone and others were seen as more for the entertainment and use of the general public.
However, Apple and other companies have been making a move on the customers that have for so long been loyal to RIM’s business features. RIM’s stock value is down by a third this year, as the company has face increased competition and threat of being locked out of certain regions around the world due to security issues.
According to the Bloomberg report, JPMorgan would not purchase the iPhone or an Android device for its employees, but would rather allow workers to send and receive corporate email through the devices. The firm currently does supply workers with a BlackBerry handset.
Shares of RIM are down 2.60 percent to $43.85 in midday market movement on Friday, down by more than half from its 52-week high. Shares of Apple are up 63 cents to $263.70.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- enVVeno Medical (NVNO) files $100M mixed shelf
- UBS Downgrades Converge ICT Solutions Inc (CNVRG:PM) to Neutral
- Nscale targets up to $3B in US IPO as soon as September - Bloomberg
Create E-mail Alert Related Categories
Insiders' BlogRelated Entities
UBS, JPMorganSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
