RIM shares jump after India deal; new phone leaked
Shares in Research In Motion jumped as much as 4 percent to near an eight-month high on Thursday after it reached a deal with India that appeared to protect its secure corporate email service.
In addition, tech website Boy Genius Report published details of a touch and type smartphone code-named BlackBerry Dakota, which it said boasted near-field communication technology, which allows consumers to pay for items by waving the phone against a special terminal.
A picture on the website showed a phone that maintains the style of the company's high-end BlackBerry Bold, with a 2.8 inch touchscreen and RIM's physical qwerty keyboard.
RIM declined to comment directly on the Boy Genius report, but said it plans to incorporate near-field communications technologies in future products and will give more details later.
In India, where RIM is fending off government demands it allow monitoring of communications sent via BlackBerrys, the Canadian company said it had allowed access to its Messenger service, but it reiterated no changes could be made to allow monitoring of secure corporate emails.
The India uncertainty has been a question mark for RIM given the country's rapid growth. The agreement alleviates the uncertainty, said Kevin Restivo, an analyst with IDC.
The shares pared some of the morning bounce but were 1.2 percent higher at $64.30 on Nasdaq and 1.5 percent higher at C$63.63 on the Toronto Stock Exchange.
RIM's share price has jumped around 50 percent since late August, buoyed by optimism over its PlayBook tablet, which is powered by a Texas Instruments dual-core processor and should launch in March.
INDONESIA LATEST HEADACHE
The Canadian company gets a growing share of its revenue from outside North America and Western Europe as its position comes under pressure in established markets from Apple's iPhone and devices running Google's Android operating system.
However, governments several newer markets, including India, Saudi Arabia and the United Arab Emirates, have presented their own headaches for RIM with demands for access to its encrypted data due to worries about the effect confidential communication has on security and social mores.
The latest country to raise an issue is Indonesia, a booming market with between 2 million and 3 million BlackBerry users.
RIM on Monday agreed to filter pornography on its Internet browsers in Indonesia after being threatened with a shutdown of its service.
That threat was made by the country's communications and information minister, Tiffatul Sembiring, who is considered an Islamic conservative and followed up the threat with a claim RIM does not pay any tax in Indonesia.
RIM denied that on Thursday and said it pays all applicable taxes as an importing manufacturer in the region.
RIM opened a new office in Jakarta in November and is hosting its pan-Asian developers conference on the Indonesia island of Bali.
(Additional reporting by Claire Sibonney; editing by Janet Guttsman)
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