Sterne Agee Says RIM's (RIMM) BB10 Unlikely to Slow iPhone/Android Momentum

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.

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