Research in Motion, the Canadian smartphone manufacturer behind the popular Blackberry line of smartphones is just weeks away from the launch of its new Blackberry 10 line of smartphones and all eyes of shareholders are on the company as it seeks to make a final push to regain lost market share.
Stock prices of RIM have remained highly volatile in the build-up to the launch as shareholders wait for the launch of the device and consumer reactions to the new Blackberry 10. The volatile prices according to analysts are due to short sellers who hold 25% of RIM’s outstanding 524 million shares on both the New York and Toronto stock exchanges.
These short sellers have essentially bet against the company becoming successful on the back of Blackberry 10 and will lose money if prices of RIM’s stock go up. On Friday, the smartphone maker’s shares went up strongly by 13% after three of the biggest US carriers announced that they will be supporting the new line of Blackberry 10 devices. RIM’s shares closed at $ 13.31 on the Toronto Stock Exchange but analysts suggest that the company will remain under pressure even after the launch as shareholders try to gauge consumer reactions to the new line.
Another problem for Blackberry is the continuing disruptions users of its services face. Just on Friday, UK carrier Vodafone apologised to its customers for a router error that disrupted services for its Blackberry customers.
Analysts though are not convinced that the new BB10 line will be able to end RIM’s market share loss to Android and Apple devices. RIM though needs to do just that if it wishes to survive in an increasingly competitive smartphone market.
Source: Canadian Business
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