Media
24/7 Wall St. TV: RIM (RIMM) Shrugs Off China News
Published:
Last Updated:
The market shrugged off news that RIM (NASDAQ:RIMM) has a new distribution partner in China, perhaps because early sales results for the Apple (NASDAQ:AAPL) iPhone have been so poor.
RIM, maker of the Blackberry, said it would form a partnership with Digital China to expand availability of the smartphone in the world’s largest cellular market based on subscribers.
[wpvideo NDV76Pap w=400]
Digital China is part of Legend which also controls Lenovo, the PC company that bought the IBM (NYSE:IBM) personal computer business.
According to Reuters, RIM and China Telecom will hold a news conference on Tuesday which will probably be an announcement of a Blackberry distribution arrangement.
RIM shares are only up 2% on the news. This may be because the early results of Apple’s relationship with China Unicom (NYSE:CHU) to sell the iPhone has been a failure because only a few thousand phones were sold in the early days after iPhone sales in China began.
Douglas A. McIntyre
For more 24/7 Wall St. TV visit us here.
Executive Producer: Philip MacDonald
Find a Qualified Financial Advisor (Sponsor)
Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. If you’re ready to be matched with local advisors that can help you achieve your financial goals, get started now.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
