(NEW YORK) — Is a comeback possible for Research in Motion (RIM) and its iconic BlackBerry?
The early buzz among investors is positive. RIM’s share price has nearly tripled since hitting a low point in September.
The Canadian-based company will show off its new BlackBerry 10 Wednesday in New York. An expensive marketing campaign will follow.
Once the dominant smartphone, BlackBerry sales collapsed as consumers opted for Android and iPhones. According to the research firm Strategy Analytics, Android and iPhone devices now account for 92 percent of all global smartphone shipments.
The corporate market for BlackBerry devices has collapsed.
“RIM used to depend on lucrative deals with corporations and government agencies for the bulk of its business,” says the Wall Street Journal.
But that percentage has shrunk to as low as 20 percent.
Copyright 2013 ABC News Radio
John Newsome and Anne Woolsey, CNN