S&P 500
7,226.20
+0.01%
Dow Jones
49,494.60
-0.62%
Nasdaq 100
27,685.40
+0.66%
Russell 2000
2,804.78
-0.02%
FTSE 100
10,364.50
0.00%
Nikkei 225
59,260.50
-0.78%

Media

24/7 Wall St. TV: RIM (RIMM) Shrugs Off China News

Photo of Douglas A. McIntyre
By Douglas A. McIntyre Updated Published
Follow 24/7 Wall St. on Google
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

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

Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

Featured Reads

Our top personal finance-related articles today. Your wallet will thank you later.

Why Your 401(k) Could Trigger a Tax Bomb in Retirement (And What to Do Now)
Jeremy Phillips |

Why Your 401(k) Could Trigger a Tax Bomb in Retirement (And What to Do Now)
"Did you buy It from the mob?": Dave Ramsey hosts floored by 21-year-old's 30% truck loan
Jeremy Phillips |

"Did you buy It from the mob?": Dave Ramsey hosts floored by 21-year-old's 30% truck loan

Continue Reading

Douglas A. McIntyre |

Apple (AAPL) China News Bad For RIM (RIMM)

Apple’s (NASDAQ:AAPL) cellular carrier for the iPhone in China, China Unicom (NYSE:CHU), said that it sold only 100,000 of the handsets…
Jon C. Ogg |

Beyond Market Share: Apple iPhone Takes Over Half of Smartphone Profits — for Now

courtesy of Apple Inc.Taking market share or losing market share is one key metric over how popular a product is.…
Douglas A. McIntyre |

Nokia(NOK): The Best Chance To Chase The Apple (AAPL) iPhone

The new Apple (AAPL) has plenty of challengers. Samsung has made the “Instinct” for Sprint (S). Early word is that…
Douglas A. McIntyre |

The Ten Reasons Apple Is The Most Valuable Company In the World

Apple (NASDAQ: AAPL) briefly became the most valuable company in the world today. When it hit $364 billion in worth,…
Douglas A. McIntyre |

Nokia (NOK) Sucks More Air Out Of The Handset Room (AAPL)(MOT)(RIMM)

Nokia (NOK) had a stronger second quarter than most people expected. According to The Wall Street Journal, "Nokia said sales…
Douglas A. McIntyre |

Could Apple’s Shares Drop 20%?

courtesy of Apple Inc.The earnings season has been one of rallies or destruction, based on expected results and real earnings.…
Douglas A. McIntyre |

Apple iPhone 4 And iPad About To Hit China

There are already grey market versions of the iPhone 4 and iPad on sale in China, many of them brought…
Apple’s Absolutely Horrible Quarter
Douglas A. McIntyre |

Apple’s Absolutely Horrible Quarter

Apple’s most recent quarter was its worst since the start of the COVID-19 pandemic. Yet, for some reason, shares increased…
Douglas A. McIntyre |

Palm (PALM): Stock Up, Questions Remain (AAPL)(RIMM)(VZ)(T)(S)

The excitement about Palm’s (PALM) new Pre handset has sent the company"s stock up from $3.50 to over $6. But,…

Top Gaining Stocks

Cboe Global Markets
CBOE • Vol: 1,568,143
New Pluto Global
PSKY • Vol: 12,285,993
Seagate Technology
STX • Vol: 7,378,346
Oracle
ORCL • Vol: 26,317,675
Datadog
DDOG • Vol: 6,247,779

Top Losing Stocks

LKQ
LKQ • Vol: 4,367,433
Clorox
CLX • Vol: 13,260,523
Stryker
SYK • Vol: 4,519,455
Mohawk Industries
MHK • Vol: 1,859,865
Amgen
AMGN • Vol: 3,818,618