Apple iPhone, Google Android Could Pinch RIM's Growth: Analyst

Stronger competition from Apple and new smartphones from Google could put a dent in Research In Motion’s (RIMM) meteoric growth, Needham analyst Charlie Wolf warned in a note today, summarized by Barron’s editor Eric Savitz.

This June, Apple (AAPL) plans to roll out new iPhone software that targets RIM’s BlackBerry sweet spot — corporate email. And later this year, smartphones running Google’s (GOOG) Android operating system will also start to compete with RIM’s consumer sales — an increasingly important growth driver. Approximately 38% of RIM’s subscriber base is now “non-enterprise,” the company said during its Q4 earnings call last week, up from 34% in Q3 and 30% in Q2.

Needham’s Wolf started RIMM coverage today with a “hold” rating. Shares are down 2.2%, trading around $118.

See Also:
RIM Q4 Solid, No Enterprise Slowdown, Stock Up On Q1 Guidance
RIM’s iPhone Killer: Just Like iPhone, But Crappier

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