Our Terms of Service and Privacy Policy have changed.

By continuing to use this site, you are agreeing to the new Privacy Policy and Terms of Service.

RIM stock rises 4% on new phone speculation

chart_ws_stock_researchinmotionltd.top.png By Julianne Pepitone, staff reporter


NEW YORK (CNNMoney.com) -- Research in Motion shares jumped 4% Wednesday on speculation that the BlackBerry maker will unveil a new smartphone next week.

RIM has scheduled a press event on Tuesday in New York City with wireless provider AT&T (T, Fortune 500), but the company declined to give further details on what it plans to announce.

Websites such as PC World posted articles speculating that the company will unveil the long-awaited Blackberry Bold 9800, a slider phone that is expected to run a new BlackBerry 6 operating system.

RIM (RIMM) teased BlackBerry 6 at its WES conference in April, and since then the company has posted several videos on its blog previewing the touch-based operating system. The new software aims to give BlackBerry parity with features available on most smartphones, including a full Web browser and a modern home screen.

RIM could use a big splash. Though the company has the highest U.S. smartphone market share, at 41.7%, growth has slowed in recent quarters as competitors eat away at RIM's sales.

The latest data from comScore showed Google's (GOOG, Fortune 500) Android platform skyrocketing from from 9% of the total U.S. smartphone market in February to 13% by May.

Apple (AAPL, Fortune 500) clocked in right behind RIM, with a 24.4% market share - a figure likely to grow, thanks to the popularity of Apple's new iPhone 4.

Shares of RIM ended Wednesday at $55.41, a 4.2% gain on Tuesday's closing price.  To top of page

Index Last Change % Change
Dow 17,773.64 -57.12 -0.32%
Nasdaq 4,775.36 -29.93 -0.62%
S&P 500 2,065.30 -10.51 -0.51%
Treasuries 1.82 -0.02 -1.03%
Data as of 9:16am ET
Company Price Change % Change
Bank of America Corp... 14.56 -0.23 -1.56%
Freeport-McMoRan Inc... 14.00 1.34 10.58%
Ford Motor Co 13.56 -0.53 -3.76%
Apple Inc 93.74 -1.09 -1.15%
Microsoft Corp 49.87 -0.03 -0.06%
Data as of Apr 29
Sponsors

Sections

The Dow is down 300 points over the past two days, leaving the index on track for its worst week since early February. Blame fumbled earnings reports from the likes of Apple and Google as well as concerns about the Bank of Japan. More

Now you can watch the SpaceX Falcon 9 rocket land on a barge as if you were standing on the deck of the ship. More

Visa says new software will allow consumers to check out with chip cards as fast as swiping a card with magnetic strip. More