Research In Motion’s (TSX:RIM) stock got a much needed boost Tuesday after chief executive Thorsten Heins said, at the San Jose developers conference, that subscriptions for its BlackBerry service grew to 80 million.
RIM’s stock gained 3.56 per cent to hit $6.40 each on the Toronto Stock Exchange. But RIM’s stock hit a new low of $6.13 in early morning trade.
The Waterloo, Ontario-based company showcased its new BB 10 OS to developers, adding that it will launch a new era in mobile computing.
RIM said the new OS and smartphone is on schedule to be launched early next year, and will almost have the processing power of a laptop.
The new operating system has suffered two major delays that have pushed back the release date, during a time when RIM is losing market share to the likes of Google (NASDAQ:GOOG), and Apple Inc. (NASDAQ:AAPL).
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While at the BlackBerry Jam Americas conference, Heins showed how the operating system works. The new OS can separate a user’s personal and corporate information with both sets of data being encrypted and fully secure.
Its new instant text messenger allows users to enter more than one language within the same sentence.
The maker of the BlackBerry and Playbook plans to release second quarter results after the markets close, on September 27. Analysts polled by Bloomberg expect a per-share loss of 46 cents, on revenue of $2.5 billion during the quarter ended September.
Shipments of BlackBerry’s are expected to have dropped by 900,000 to 6.9 million during the second quarter.
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About the Author
Brad Lemaire joined Proactive Investors in May 2011 as a reporter at the Toronto office. He is a graduate of Humber College’s Journalism Program and has been published in many small Toronto publications. He holds interests in business, photography and web-design.