RIM Stock Drops
Posted Aug 4, 2010 04:23:16 PM.
This article is more than 5 years old.
BlackBerry maker Research in Motion’s stock tumbling more than 4.5% after several countries in emerging markets have demanded bans on services like email and texting due to concerns over national security.
RIM is trying to expand sales of it’s BlackBerry brand in markets such as the Middle East, Asia and Latin America.
But countries such as United Arab Emirates, Indonesia and Saudi Arabia want to ban some of the device’s services because governments can’t monitor them locally.
The Waterloo-based company says it won’t compromise user privacy on the BlackBerry, which has helped drive the company’s reputation worldwide.
On the TSX, the stock is down 4.7% or $2.67.
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