RIM just lost its number one spot in smartphone shipments in its native Canada to Apple, reports Bloomberg.RIM shipped 2.08 million BlackBerrys in Canada last year versus Apple’s 2.85 million iPhones.
Paul Taylor, a fund manager at Toronto-based BMO Harris Private Banking, told Bloomberg, “For RIM, in its home market, to lose that No. 1 position to iPhone is strategically important. It does identify, even with a home-country bias, how consumers are responding to the greater functionality of the iPhone.”
It’s no secret that RIM’s taken it on the nose lately — as Bloomberg’s Hugo Miller puts it, “Market-share losses, a series of marketing missteps and product delays sent the stock down 75 per cent last year and RIM yesterday closed lower at $14.04 in New York, down 90 per cent from its mid-2008 record.”
Investors are betting on further declines as short interest in the company reached an eight-year high this month.