Is Research in Motion Making a Comeback?
Reuters reports this afternoon that dwindling smart phone producer Research in Motion (NASDAQ:RIMM) has been making strides of late, in overseas markets. The company, whose Blackberry market share has been blind sided by the growth of Apple (NASDAQ:AAPL) iPhones, Google (NASDAQ:GOOG) Android OS Phones, and even Microsoft’s (NASDAQ:MSFT) Windows phones in the last two years, tweeted today that it has added over 1 million new subscribers in Europe, Africa, and the Middle East. Not exactly high priority market share, but still an encouraging sign for a company that really needs to cling on to any hopeful sign it can find, lest it find itself in Nokia’s (NYSE:NOK) shoes.
RIMM shares were up last week on the news, though are still down by over 50% in 2011. The company’s struggles recently became public when an employee drafted an open letter (distributed across the web) to the company’s top management, chronicling problems in the workplace and a lack of direction the company seemed to be exhibiting. According to recent Nielsen (NYSE:NLSN) surveys RIMMs Blackberry now holds just 21% of the smart phone market, compared to a 28% owned by iOS phones and 37% held by Android OS phones.
Despite recent misgivings, the company appears to have enough resources to stay on track for the short term, having added 5 million subscribers this year and still holding 55 million worldwide.