Canadian technology giant, Research In Motion, has seen its share prices climb up recently thanks to optimism about the upcoming BlackBerry 10 operating system and related devices. However, on Tuesday November 27 the company had a major setback as share prices dropped 10 per cent. The drop in RIM stock came after a report was released that claimed BlackBerry had lost significant market share in the US. According to e report, RIM only represents 2 per cent of the U.S. market. . The Ontario based firm lost $1.20 on the Toronto Stock Exchange and closed at $10.70. This has been a bad day for RIM which had gained 50 per cent in November because of cautious optimism from analysts.
Kantar Worldpanel ComTech’s smartphone sales data shows that BlackBerry market share in the United States had fallen to an almost insignificant 1.6 per cent. The numbers are for a 3 month period that started in August and ended on October 28. The drop is quite large when compared to the 8.5 per cent market share in the same time frame from last year.
The Kantar Worldpanel ComTech data shows a positive story for Apple whose iPhone now has 22.4 per cent after a 25.7 per cent gain. This comes thanks to the company capturing buyers from BlackBerry and also Android phone users. Android phones actually saw a loss of 16.6 per cent and their market share came down to 46.7 per.
The report also showed that RIM did not fair to well in other international markets. In the UK, BlackBerry fell 11.1 while experiencing a nine per cent drop in France. Spanish market share fell a whopping 20.3 per cent and Brazil also saw a six per cent decline.
According to the report, six per cent of total sales of the recently released iPhone 5 came from BlackBerry users ditching their RIM device for the Apple smartphone. With a market share that is under 10 per cent in North America, RIM is at a crucial moment in its history. The firm’s upcoming BB10 product is expected by many to be the make or break moment for the company.
Source: Ottawa Business Journal
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