Skip to main content

Inside the Market RIM shares jump on biggest single BlackBerry purchase ever

Research in Motion (RIM) President and Chief Executive Officer Thorsten Heins introduces a new RIM Blackberry 10 device during its launch in New York, in this file picture taken January 30, 2013.

SHANNON STAPLETON/REUTERS

Shares in Research In Motion Ltd. surged in late trading after the company announced an order for 1 million of its BlackBerry 10 smartphones - the largest single purchase of its phones in history.

RIM shares saw a burst of buying activity following the late afternoon press release, and closed up 8.1 per cent, near the highs for the day. The stock, which is up 19 per cent so far this week, had been trading nearly unchanged prior to the announcement.

The stock continued to chalk up gains in after-hours trade, rising by a further 2 per cent.

Story continues below advertisement

RIM did not name the company that placed the order, but said it was one of its "established partners." RIM also did not disclose which models were ordered.

Separately, Verizon Wireless announced this afternoon that it plans to begin selling the BlackBerry Z10 smartphone on March 28, and will start taking pre-orders on March 14. U.S. rival AT&T will start selling the smartphones a week earlier.

"An order for one million devices is a tremendous vote of confidence in BlackBerry 10," said Rick Costanzo, executive vice-president of Global Sales for BlackBerry, in a statement. "With strong partner support, coupled with this truly re-invented new platform, we have a powerful recipe for success."

BlackBerry unveiled the new BlackBerry Z10 and BlackBerry Q10 smartphones on Jan. 30. BlackBerry Z10 is already available for purchase in a number of markets around the world, but has yet to hit U.S. store shelves.

Report an error Editorial code of conduct
Tickers mentioned in this story
Unchecking box will stop auto data updates
Due to technical reasons, we have temporarily removed commenting from our articles. We hope to have this fixed soon. Thank you for your patience. If you are looking to give feedback on our new site, please send it along to feedback@globeandmail.com. If you want to write a letter to the editor, please forward to letters@globeandmail.com.

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff. Non-subscribers can read and sort comments but will not be able to engage with them in any way. Click here to subscribe.

If you would like to write a letter to the editor, please forward it to letters@globeandmail.com. Readers can also interact with The Globe on Facebook and Twitter .

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff. Non-subscribers can read and sort comments but will not be able to engage with them in any way. Click here to subscribe.

If you would like to write a letter to the editor, please forward it to letters@globeandmail.com. Readers can also interact with The Globe on Facebook and Twitter .

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff.

We aim to create a safe and valuable space for discussion and debate. That means:

  • Treat others as you wish to be treated
  • Criticize ideas, not people
  • Stay on topic
  • Avoid the use of toxic and offensive language
  • Flag bad behaviour

Comments that violate our community guidelines will be removed.

Read our community guidelines here

Discussion loading ...

Cannabis pro newsletter