RIM (RIMM) is Losing Clout with Hometown Crowd
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Price: $344.86 +1.14%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 0.3%
Revenue Growth %: +10.6%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 0.3%
Revenue Growth %: +10.6%
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According to Bloomberg and IDC-compiled data, Canadians are turning more and more to Apple's (Nasdaq: AAPL) iPhone, leaving a brokenhearted RIM (Nasdaq: RIMM) behind. IDC data showed 2.08 million BlackBerry devices being shipped to Canada last year, compared with 2.85 million iPhones.
The number is a reversal from 2010 when BlackBerry bested Apple by 500,000 units.
Waterloo, ON-based RIM losing ground to its U.S. counterpart shows how a friendly user interface as well as a slew of apps have turned the tides in the Great White North.
One BMO analyst said RIM losing stickiness in its home market is strategically important: “It does identify, even with a home-country bias, how consumers are responding to the greater functionality of the iPhone."
Shares of RIM are off about 1.2 percent Thursday morning.
The number is a reversal from 2010 when BlackBerry bested Apple by 500,000 units.
Waterloo, ON-based RIM losing ground to its U.S. counterpart shows how a friendly user interface as well as a slew of apps have turned the tides in the Great White North.
One BMO analyst said RIM losing stickiness in its home market is strategically important: “It does identify, even with a home-country bias, how consumers are responding to the greater functionality of the iPhone."
Shares of RIM are off about 1.2 percent Thursday morning.
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