“Shares of BlackBerry fell 3 percent on Monday after U.S. home improvement retailer Home Depot Inc said it is replacing the BlackBerry smartphones it provides its executives and managers with Apple Inc’s iPhone,” Reuters reports.
“The news is a setback for BlackBerry as it fights to retain its base of big corporate clients and government agencies,” Reuters reports. “The company hopes the make-or-break new line will help it win back market share ceded in recent years to the likes of Apple… The news of Home Depot’s defection sent BlackBerry shares 3.8 percent lower to $15.86 in afternoon trading on the Nasdaq on Monday…”
Reuters reports, “Stephen Holmes, a spokesman for Home Depot, confirmed an earlier report on the Apple Insider blog site that the retailer was issuing iPhones to almost 10,000 executives, managers and corporate staffers who currently use the BlackBerry.”
Read more in the full article here.
Related articles:
Home Depot dumps beleaguered BlackBerry for Apple iPhone; 10,000 employees to get upgrade – February 9, 2013
U.S. NTSB dumps beleaguered RIM BlackBerry over reliability issues, switches to Apple iPhone 5 – November 20, 2012
U.S. Immigration and Customs (ICE) dropping RIM BlackBerry and purchasing 17,000 Apple iPhones – October 19, 2012
Yahoo CEO Marissa Mayer chooses Apple iPhones over Android phones for all 10,000+ employees – August 21, 2012
Lowes deploys 42,000 iPhones as mobile holiday shopping booms – November 21, 2011
Oracle: How does an 80,000-person organization use Apple iPhones? – July 28, 2009
The decision by HD to switch was announced months ago, so why the flurry of activity on old news?
As far as I can tell, hindsight is the preferred tool for explaining any action by the stock market. It doesn’t have to make any sense.
In this case, we have been watching RIMM/Blackberry circle the bowl for the past four years or so, starting soon after the release of the original iPhone. Some people now need a reason to explain RIMM/Blackberry’s decline, so that pull out months-old news.
This is why you are generally best off relying upon your own reasoning in terms of investments. Stock market advisors and pundits are invariably laggards attempting to explain present performance or predict future performance using past data for a relatively irrational system largely controlled by a small group of extremely wealthy and well-connected businesses and people.
My thoughts exactly. The ‘news’ is trying to be linked with the stock movement but it is rumour that drives the market. News like this HD story would more likely cause an uptick if it was NEW. It is only 10,000 phones to Apple and it might be 1% of BBRY quarterly sales. Big deal.
It’s really not clear to me why they even bother. I would just shutter Blackberry- what a waste of time and money. They were short-sighted and arrogant and they got what they deserved…
20 years from now we will be reading stories about Blackberry on this site with the obligatory “DCW” tag.
Look out for a certain large paint company to make the switch this year too. There are probably many more companies on the cusp of making the switch but haven’t made a formal announcement yet.
Step 1- Take previously released unimportant news
Step 2- Relate it to Apple in some tangential way
Step 3- Label the other company and label them beleaguered.
Apple Inc share price has fallen 20% in the last quarter. Who’s beleaguered now?
Give it up…
Has there ever been an announcement of a major corporation ditching Blackberry’s for an Android phone?
Wow, sucks for blackberry. They make terrible phones, anyway. Can’t stand trying to use those things.