July 29, 2015


Business

Shares fall before the very big day

TORONTO -- Shares in Research In Motion closed down Tuesday ahead of the unveiling of its BlackBerry 10 lineup.

RIM stock ended the day down 56 cents, or 3.44 per cent, to $15.71 on the Toronto Stock Exchange following a 7.6 per cent slide Monday.

As of Friday, RIM stock had soared 50 per cent during January.

"The returns have been huge here, and for sure you're probably seeing some profit-taking, some buy on rumour, sell on news," said Gareth Watson, vice-president of investment management and research at Richardson GMP Ltd.

"But also, the reality that the device is about to be launched... we don't know how successful it will be."

The smartphone pioneer once dominated the marketplace with its devices, which were affectionately dubbed "CrackBerrys" by devoted users.

But RIM has seen its market share eroded significantly by Apple's iPhone and Android-powered phones.

The unveiling of the new BB10 phones and operating system today will mark the start of an advertising blitz that will stretch to social media, the Super Bowl and beyond as RIM tries to regain its footing.

The smartphones are widely seen as a make-or-break product for the Waterloo, Ont., company.

-- The Canadian Press

Republished from the Winnipeg Free Press print edition January 30, 2013 B5

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