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Shares in Research In Motion Ltd. climbed to a 13-month high yesterday. The surge came amidst increasingly bullish sentiment over RIM’s soon-to-launch BB10 operating system and phones, which spurred hopes for a new cross-licensing revenue stream for the BlackBerry maker.
In an interview with a German newspaper Die Welt, CEO Thorsten Heins reiterated that the company would consider licensing its operating system to other manufacturers, and might even farm out its hardware-making division.
His comments helped ignite a rally in RIM shares to a 13-month high. The stock surged by as much 14 per cent Monday before closing in Toronto on heavy volume at $ 17.41, a gain of $ 1.70, or nearly 11 per cent. RIM did not trade on the Nasdaq due to the Martin Luther King Jr. holiday.
He cited improving odds that BB10 will recapture North American market share and said the new software will generate revenue by managing iPhones and Android devices on corporate and government networks.
In a note to investors, Byron Capital analyst Tom Astle added that BlackBerry 10 has a good chance of success thanks to an innovative and well-reviewed user interface and strong support from network carriers including the top four in the U.S.
RIM initiated a review of its operations amid losses last year to consider assets sales and licensing partnerships, but analysts say improving odds for a successful BB10 launch make a software licensing deal a more realistic possibility