TORONTO, Sept 26 Shares of Research In Motion
Ltd RIM.TO RIMM.O rose on Wednesday after the struggling
BlackBerry maker announced
better-than-expected subscriber numbers and assured its wary
investors that its new devices will go on sale in early 2013.
Waterloo, Ontario-based RIM will announce quarterly results
on Thursday and analysts were expecting the company, for the
first time in its history, to have begun losing subscribers. But
at a developer event on Tuesday, RIM announced that its
subscriber base had grown by 2 million in the quarter that ended
The announcement took analysts by surprise, as RIM's aging
line-up of BlackBerry devices has been losing ground rapidly to
Apple's iPhone and Samsung's line of Galaxy products in the key
North American and European markets.
"Overall that is a promising performance given RIM's
lackluster portfolio of smartphones," Scotiabank analyst Gus
Papageorgiou said in a note to clients. "We believe largely all
of these subscribers came from outside North America as the
company continues to lose ground in that market."
RIM is trying to reinvent itself through a line of revamped
smartphones that will run on the BlackBerry 10, or BB10
operating system, on which the company has staked its future.
In an attempt to create a buzz around the new devices, Chief
Executive Thorsten Heins gave a preview of the smartphone and
its features to its developers at an event on Tuesday in San
Jose, California. [ID:nL1E8KPAKI]
TD Securities analyst Scott Penner, who was at the event,
said attendees in general were positive about advances that RIM
has made on the new BB10 devices that are set begin the carrier
certification process next month.
RIM's shares rose 24 cents to $6.74 in early Nasdaq trading.
The stock, which has been hovering around nine-year lows, jumped
nearly 5 percent on Tuesday.
(Reporting by Euan Rocha; Editing by Maureen Bavdek)
((firstname.lastname@example.org)(+1 416 941 8185)(Reuters
Keywords: RIM SHARES/
(C) Reuters 2012. All rights reserved. Republication or redistribution of
Reuters content, including by caching, framing, or similar means, is
expressly prohibited without the prior written consent of Reuters. Reuters
and the Reuters sphere logo are registered trademarks and trademarks of
the Reuters group of companies around the world.