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RIM shares surge as carriers begin testing BlackBerry 10

RIM shares surge as carriers begin testing BlackBerry 10

By Reuters | Updated: 2 November 2012 10:37 IST

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Shares of Research In Motion Ltd rose almost 10 percent on Thursday, a day after the BlackBerry maker said more than 50 telecommunications carriers had begun testing its new line of BlackBerry 10 devices.

The testing phase is an important step toward the launch of the BB10 phones, now planned for the first quarter of 2013. The testing signals to investors that RIM's long-delayed line of what are seen as make-or-break devices will finally reach store shelves early next year.

The struggling BlackBerry maker has twice delayed the launch. It is counting on the BlackBerry 10 devices, which run on a new operating system, to help it regain the market share it has lost in recent years to Apple's iPhone and Samsung's line of Galaxy products.

RIM's U.S.-listed shares touched a four-month high of $8.85 in early trading on Thursday on the Nasdaq and were up 8.8 percent at $8.62 at 1300 EDT. The Toronto-listed shares were up 9 percent at C$8.59.

© Thomson Reuters 2012

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