Rochester,NY 7/10/2009 4:25:15 AM
End of Day Report - RIMM - Tech Rumor of the Day: MetroPCS - Sourced WhisperFromWallStreet.com
Research In Motion Ltd
End of Day Report - RIMM - Tech Rumor of the Day: MetroPCS - Sourced WhisperFromWallStreet.com
Research In Motion Ltd.RIMM
Wall Street saw a crushing threat looming for MetroPCS (PCS Quote) as low-end rival TracFone -- a big player in Wal-Mart (WMT Quote) and 7-Eleven stores -- rolled out an unlimited calling plan.
The rumor had it that MetroPCS and prepaid peer Leap Wireless (LEAP Quote) customers, unencumbered by contracts, would flee to TracFone's unlimited $45 Straight Talk offer.
But some now say the Tracfone stuff may be a lot weaker than anticipated.
For those unfamiliar with the full landscape of our nation's great mobile phone addiction, you should know that we are a two-class wireless society.
One class is the conventional contract customer who buys fancy telco-subsidized phones like Research In Motion (RIMM Quote) BlackBerries and Apple (RIMM Quote) iPhones, and makes regular monthly payments north of $50 a month.
The other group, known as prepaid, consists of customers who pay full price for cheap phones and refill their minutes allotments as needed.
Last Trade: 66.36
Day's Range: 66.11 - 67.44
52wk Range: 35.05 - 135.00
Volume: 14,344,944
ABOUT Research In Motion Ltd
Research In Motion Limited designs, manufactures, and markets wireless solutions for the mobile communications market worldwide. The company?s products include BlackBerry smartphones and accessories, including bundles, cases, audio and memory products, Bluetooth, chargers, batteries and doors, and card readers; SureType, a keyboard technology, which allows users to compose messages using single-handed operation or two-handed thumb-typing; and SurePress, a touch screen that helps in navigation and typing. Its products provide access to time-sensitive information, including email, phone, short messaging service, and Internet and intranet-based applications. The company?s products also enable third party developers and manufacturers to enhance their products and services with wireless connectivity to data. Research In Motion Limited markets and sells its products directly, as well as through strategic partners and distribution channels. It has a strategic alliance with Hewlett-Packard Company to deliver a portfolio of solutions for business mobility on the BlackBerry platform. The company was founded in 1984 and is headquartered in Waterloo, Canada with additional offices in North America, Europe, and the Asia Pacific.
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