After eigh years of effort Research In Motion (RIMM) has permission to sell its Blackberry in China. It could add fuel to an already fast-growing company.
RIMM shares are up 3.2x over the last year to $210.
Although the Blackberry does not compete with the Apple (AAPL) iPhone and most other handsets because it is primarily an e-mail tool, being in China before the iPhone could give it an early market foundation that would be valuable as new wireless products come to the world’s most populated country.
RIMM needs something to show the market that it can keep up its rapid growth. Moving into China helps.
Douglas A. McIntyre
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