Latest high-speed BlackBerry device boosts TSX to new high

Source: Exec Digital Canada

Date :13/05/2008 05:19:11

Shares of Research In Motion Ltd. soared almost seven percent yesterday after the wireless email pioneer unveiled a new BlackBerry device which had been the subject of leaks and speculation for months – the BlackBerry Bold.

RIM shares gained $8.90 to close at $142.25, after hitting an all-time high of $143.67 yesterday.

RIM's gains were responsible for 40 of the TSX's 144.88 point gain.

Bold move

The BlackBerry Bold - the first BlackBerry to support so-called third generation (or 3G) wireless technology on GSM networks - is expected to be available by summer 2008.

Details of the device, including photos and technical specifications, have been leaked in bits and pieces on the Internet for the past few months.

The BlackBerry Bold has been touted by RIM as a top-of-the-line, high-performance smartphone designed for professionals but will also appeal to consumers, thanks to its camera, video recording and enhanced Web browsing capabilities.

The bold new device is evidence that RIM hasn't forgotten its corporate clients and their need for secure wireless email.

Loosing ground to Apple?

BlackBerry Bold’s unveiling comes amid speculation that Apple Inc. is preparing to launch a 3G-version of its consumer-oriented iPhone device in June.

Just last week, RIM revealed a potentially important partnership with business management software-maker SAP AG to offer back-end business applications on the BlackBerry platform and despite numerous reports that suggest RIM is in danger of losing ground to Apple, analysts have argued that the shear demand for smartphones means there's more than enough room for both competitors.

May 13, 2008