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Mobilizing the Business and Business of Mobile

Financial turmoil to impact mobile phone developers: Reuters

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This week has been a rollercoaster ride for the financial industry and the economy as a whole. And in a sign that all parts of the economy are interlinked, especially, the financial industry and the mobile phone industry, Reuters is stating that:

Mobile phone makers and operators risk losing thousands of their most profitable customers as financial havoc whacks the global banking industry.

According to Reuters, Blackberry maker RIM might be hardest hit. This is logical given that financial industry will shed several thousand jobs as part of this shakeup and that large corporations make up nearly 40% percent of RIM’s customer base. RIM’s co-chief executive Jim Balsille was quoted as saying that the people will still hold on to their mobile even in turbulent times. He also said on Thursday in Mumbai at the launch of the BlackBerry Bold smartphone in India:

But there’s clearly got to be a point where there is an impact. Macroeconomic factors have gotten all the more turbulent in the last week, and maybe it will come to that tipping point,

Though, Jim did not comment on whether RIM stood by its guidance for the second quarter and rest of the year.

[Thanks, Mia, for sending this in]


Written by dvdand

September 19, 2008 at 5:01 pm

Posted in Financials, RIM

Tagged with , ,

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