TORONTO: The first BlackBerry device running Research in Motion Ltd.'s new operating software will not have a physical keyboard, only a touch-screen one.
The BlackBerry 10 software will be offered on devices with physical keyboards in the future, but RIM spokeswomen Rebecca Freiburger declined to say when. RIM is expected to start selling BlackBerry 10 touch-screen devices this year.
Top-selling smartphones these days, including Apple Inc.'s iPhone and several running Google's Android software, also lack physical keyboards. But RIM's attempts in the past to offer touch-only phones have largely flopped.
Many corporate users have stuck with the BlackBerry solely because of its physical keyboard, given a perception that it's harder to type emails on a touch screen. The BlackBerry 10 system has already been delayed about a year, and with additional delays to get a physical keyboard, those people may not be willing to wait any longer, especially as the iPhone makes greater in-roads in corporate settings. Those users may simply get the new iPhone expected this fall.
RIM's hopes hang on the BlackBerry 10 system, which is meant to offer the multimedia, Internet browsing and apps experience customers now demand. The Canadian company is preparing to launch the new software later this year, just as North Americans are abandoning BlackBerrys for iPhones and Android devices.
Jefferies analyst Peter Misek said BlackBerry 10 is all about touch and closing the gap with Apple, so people should not be surprised that the initial model will have only a touch screen.
"They are going to build a BlackBerry device with a keyboard, but it's just going to take longer," Misek said. "Maybe it will come a month or two after, but frankly it might be already too late."
RIM once dominated the corporate smartphone market but failed to adapt to the emerging "bring your own device" trend, in which employees use their personal iPhones or Android devices for work instead of relying on BlackBerrys issued by their employers. As the movement caught on, the iPhone made the BlackBerry look ancient.
RIM's future is far from certain as its flagship devices rapidly lose market share to flashier phones. With more than $2 billion in cash, bankruptcy seems unlikely in the near term. But RIM's US share of the smartphone market fell sharply from 44 percent in 2009 to 10 percent in 2011 according to market researcher NPD Group.
RIM said Wednesday it has started laying off employees as part of a restructuring plan aimed at saving about $1 billion this year.
RIM's stock fell 18 cents, or 1.7 percent, to $10.15 in midday trading yesterday.
RIM says first new device won't have keyboard
RIM says first new device won't have keyboard
Closing Bell: Saudi main index gains 135 points to close at 11,268
RIYADH: Saudi Arabia’s Tadawul All Share Index opened the week on a positive note, gaining 134.90 points, or 1.21 percent, to close at 11,268.48.
The total trading turnover of the benchmark index stood at SR4.77 billion ($1.27 billion), with 202 listed stocks advancing and 61 declining.
The Kingdom’s parallel market Nomu also gained 99.47 points to close at 23,612.74.
The MSCI Tadawul Index advanced 1.44 percent to 1,517.57.
The best-performing stock on the main market was Saudi Tadawul Group Holding Co., whose share price rose 9.97 percent to SR161.
Makkah Construction and Development Co.’s share price increased 9.91 percent to SR87.65.
Dar Alarkan Real Estate Development Co. also saw its stock climb 8.32 percent to SR19.
Conversely, East Pipes Integrated Co. for Industry saw its share price decline 2.38 percent to SR126.90.
On the announcements front, ACWA Power said its board of directors recommended the buyback of 1.19 million shares, which will be held as treasury shares and subsequently granted to eligible employees under the long-term incentive scheme
In a Tadawul statement, the Saudi utility company said the buyback will be financed through internal resources.
The company added that treasury shares currently account for 0.11 percent of its total outstanding shares.
ACWA Power’s share price rose 1.22 percent to SR181.90.
Saudi Arabian Mining Co., also known as Maaden, said it completed the issuance of $1 billion in US dollar-denominated sukuk, offered to qualified investors inside and outside Saudi Arabia.
The trust certificates have a par value of $200,000 and offer a return of 5.25 percent, with a maturity of 10 years, according to a Tadawul statement.
The trust certificates will be listed on the London Stock Exchange’s International Securities Market and may be sold in reliance on Regulation S and Rule 144A under the US Securities Act of 1933, as amended.
Maaden’s share price increased 7.18 percent to SR77.65.
