The manufacturer of BlackBerry should be able to break through the complex situation created by competitors’ alliance, according to an industry analyst.
Bloomberg reports Research In Motion (RIMM) will win new business and customers as wireless operators pull back from Nokia (NOK) as a result of its merger with Microsoft (MSFT), according to Jim Suva, an analyst with Citigroup (C). The Nokia Oyj is projected to use software manufactured by the Seattle-based tech giant. More after the break!
“Nokia is completely changing its strategy to now embrace the Microsoft mobile operating system thereby creating a multi quarter gap in Nokia products and carrier promotion support,” the analyst wrote in a research report. “We met several international carriers at Mobile World Congress in Barcelona this week who commented on their forthcoming shift to promote other” makers of mobile phones.
Suva raised RIM’s rating from “sell” to “buy” as the price target sits at $80. “Sell” had been in place since November 2009.
Suva also noted that Apple (AAPL) and other smart-phone manufacturers using Google (GOOG) software are similarly likely to capitalize on the complex situation.