Shares in Canada's Research in Motion surged Wednesday on reports the BlackBerry maker plans to release a new smartphone next week to rival Apple's iPhone.RIM shares gained 4.19 percent in New York to close at 55.41 dollars.The Waterloo, Ontario-based RIM is holding a press event in New York on Tuesday but has declined to specify what it is about.Bank of America analyst Vivek Arya said, however, RIM is likely to unveil the new BlackBerry 6 mobile operating system and a BlackBerry 9800 touchscreen smartphone.
NEW YORK — Research In Motion Ltd. is dead — long live BlackBerry.
At a splashy press event in Manhattan on Wednesday, chief executive Thorsten Heins introduced as expected the next generation of BlackBerry smartphones.
But it came out of the blue when he dropped the news that Canada’s most famous technology company will officially rebrand itself as simply “BlackBerry.”
Blackberry smartphone maker Research in Motion (RIM) announced Thursday it would buy back 1.2 billion US dollars worth of its stock to prop up the sagging share price amid heightened competition.The buyback of some 21 million common shares or about 3.6 percent of its currently outstanding shares would commence on November 9 and continue over the next 12 months.RIM shares have plummeted more than 30 percent since late September, after management reported disappointing quarterly results.