Another Vote of No Confidence for RIM

Votes of confidence for Research In Motion (Nasdaq: RIMM  ) are rather rare nowadays. In fairness, the struggling BlackBerry maker got a rather big one days ago when board member and investor Prem Watsa doubled his stake in the company to 10% through his holding company Fairfax Financial. That's certainly much more meaningful than the vote of no confidence that RIM just got, but it just adds to the growing list.

New York Times Co. (NYSE: NYT  ) has announced that it will no longer support the New York Times BlackBerry app ecosystem; its New York Times offerings on the platform will no longer receive updates or any new content. That's particularly interesting considering the publication and the smartphone maker both target the same user base of business professionals.

BlackBerry users will still be able to access content through the mobile website, which relegates the experience back to the pre-app Stone Age of mobile Internet. Speaking of the Stone Age, guess who else is getting the cold app shoulder from the NYT. The Palm Pre.

That's right. One of the most prestigious content publishers in the world is now categorizing BlackBerry 7 with a device that has been long dead. Even before Hewlett-Packard (NYSE: HPQ  ) acquired Palm, the device was on its way out.

NYT spokeswoman Eileen Murphy told Reuters: "It's a matter of usage of our apps, and we dedicate our resources where we think there's the highest level of usage. We've seen a drop-off." This decision primarily covers RIM's current operating system, not necessarily the delayed BlackBerry 10 OS. That one is still on the table for the time being, with Murphy saying it is "entirely possible that we might."

Investors and BlackBerry loyalists have at least six months to go before BlackBerry 10 is released, assuming it's on time.

Looking for great investing ideas? Consider these three American companies set to dominate the world by tapping international markets. This report is totally free.

Fool contributor Evan Niu holds no position in any company mentioned. Click here to see his holdings and a short bio. The Motley Fool has a disclosure policy.

We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. Try any of our Foolish newsletter services free for 30 days.

Read/Post Comments (5) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

  • Report this Comment On July 26, 2012, at 11:17 AM, MAXwolf wrote:

    Strangely titled, an investment of millions is offset by a dropped app.


  • Report this Comment On July 26, 2012, at 12:49 PM, infektu wrote:

    Didn't even know there was a BB app for NYT ... I have a browser, you know :-)

    Some handsets might need an app for reading a newspaper (or maybe not, maybe just their owners) but if a lot of BB users choose the browser then I guess there is no much use keeping the app anyway.

    News... :-)

  • Report this Comment On July 26, 2012, at 3:12 PM, krumb31 wrote:

    Pre App Mobile was Stone Age- I would reckon App in now considered Stone Age. I would much rather go to mobile site then have to open an app, input password, give out email address, and get unwarrented spam. You are not looking to the future.

  • Report this Comment On July 26, 2012, at 9:03 PM, infektu wrote:

    and how is that a vote of no confidence ? did you run out of real news?

  • Report this Comment On July 27, 2012, at 6:09 AM, SuperflyFR wrote:

    What a flaw ... C'mon avoid shame and change this title already !

    From Reuters :

    Abstract :

    [...]Murphy said the company has not ruled out developing an app for devices that will run on RIM's new operating system, BlackBerry 10, due out early next year.

    "That decision has not been made, and it's entirely possible that we might," she said.

    BlackBerry users can still read the paper over their phones via the New York Times website.

    "Currently, our mobile website offers a more complete New York Times experience than the NYTimes app native to your device," said a notice to customers on the New York Times website.

    Get informed.

Add your comment.

DocumentId: 1959123, ~/Articles/ArticleHandler.aspx, 4/20/2014 10:31:20 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...