Reuters: Global Markets: RIM shares rise further as investors see hope

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RIM shares rise further as investors see hope Sep 26th 2012, 13:54 Tweet Share this Email Print Related News RIM spurs rare optimism with new phone 5:31am EDT RIM says subscriber base grows to 80 million; shares jump Tue, Sep 25 2012 RIM faced with another brutal quarter; focus on cash pile Tue, Sep 25 2012 Apple sells over 5 million iPhone 5, supply constraints loom Mon, Sep 24 2012 Apple iPhone 5 fever rages despite grumbling over maps Fri, Sep 21 2012 Analysis & Opinion Why I won't be getting an iPhone 5 Reinventing video news for your smartphone Related Topics Tech » Hot Stocks » Asian Markets » Media » The exterior of one of the Research In Motion Limited (RIM) buildings is seen in Waterloo July 10, 2012. Credit: Reuters/ Mike Cassese TORONTO | Wed Sep 26, 2012 9:54am EDT TORONTO (Reuters) - Shares of Research In Motion Ltd 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 Sept 1. 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. 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) Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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