Research in Motion, makers of BlackBerry phones, has been having a little trouble figuring out where they go next. They used to be the most popular device for business and email, but have quickly been losing ground to the iPhone, Android and Palm phones that have all understood better what communication should look like and feel like on a modern mobile device.
RIM has also tried to move into the consumer smartphone market with almost no success. The Storms have been slightly better received than Microsoft's Kin. All of this information still leads me to announce that on July 9th, RIM's stock rose over 7%.
Hit the break to find out why.
RIM has decided to do what every struggling tech company does, it goes to China. RIM is developing a new version of the BlackBerry that will work on China Mobile. Their 3G network runs on different technology than most other 3G networks, so an altered version of one of their handsets was the only option. China Mobile is the largest provider in the country.
We have seen this attempt before from Apple, however. They launched the iPhone on China Unicom in 2009 to a lot of stock market excitement and the handset has failed miserably. Hopefully RIM will see what Apple has done wrong there and adjust their strategy.