Apple iMessage Takes Aim at RIM's Blackberry Messenger
byJun 16th 2011 8:00AM
Apple (AAPL) recently introduced iMessage, a new service that lets users send text messages, photos and videos between all Apple devices. This could challenge Research in Motion's (RIMM) popular BlackBerry Messenger service, which has been a unique selling point as the company struggles to compete with Apple's iPhone and smartphones using Google's (GOOG) Android.
Though RIM has 43 million active users, its has also been losing market share in the U.S. smartphone market for the last few months, with devices based on Google Android and Apple iPhone the main beneficiaries. According to a recent report from Comscore, RIM's U.S. market share declined from around 30% in January to 26% in April 2011. Due to these reasons we have updated our price estimate for RIM stock from $68 to $51 though our price estimate is still about 40% above market price.
See our complete analysis for RIM
Trefis is an online investment research platform targeted towards individual and professional investors. Trefis also includes a community of users that can create and share their models and analysis on trefis.com.
Like our charts? Embed them in your own posts using the Trefis Wordpress Plugin.