Another Vote of No Confidence for RIM
Votes of confidence for Research In Motion (NAS: RIMM) are rather rare nowadays. In fairness, the struggling BlackBerry maker got a rather big one days ago when board member and investor Prem Watsa doubled his stake in the company to 10% through his holding company Fairfax Financial. That's certainly much more meaningful than the vote of no confidence that RIM just got, but it just adds to the growing list.
New York Times Co. (NYS: NYT) has announced that it will no longer support the New York Times BlackBerry app ecosystem; its New York Times offerings on the platform will no longer receive updates or any new content. That's particularly interesting considering the publication and the smartphone maker both target the same user base of business professionals.
BlackBerry users will still be able to access content through the mobile website, which relegates the experience back to the pre-app Stone Age of mobile Internet. Speaking of the Stone Age, guess who else is getting the cold app shoulder from the NYT. The Palm Pre.
That's right. One of the most prestigious content publishers in the world is now categorizing BlackBerry 7 with a device that has been long dead. Even before Hewlett-Packard (NYS: HPQ) acquired Palm, the device was on its way out.
NYT spokeswoman Eileen Murphy told Reuters: "It's a matter of usage of our apps, and we dedicate our resources where we think there's the highest level of usage. We've seen a drop-off." This decision primarily covers RIM's current operating system, not necessarily the delayed BlackBerry 10 OS. That one is still on the table for the time being, with Murphy saying it is "entirely possible that we might."
Investors and BlackBerry loyalists have at least six months to go before BlackBerry 10 is released, assuming it's on time.
The article Another Vote of No Confidence for RIM originally appeared on Fool.com.Fool contributorEvan Niuholds no position in any company mentioned.Click hereto see his holdings and a short bio. The Motley Fool has adisclosure policy.We Fools may not all hold the same opinions, but we all believe thatconsidering a diverse range of insightsmakes us better investors. Try any of our Foolish newsletter servicesfree for 30 days.
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