BlackBerry smartphone manufacturer Research in Motion (RIM) watched as its stock increased by 0.52 percent on Friday, its first major sign of increase in months. The company’s valuation was helped along by Goldman Sachs after the investment firm showed confidence in RIMs ability to still turn a profit thanks to the upcoming BlackBerry 10 OS.
BlackBerry shares closed at $11.60, a significant increase from the company’s Wednesday close. On Thursday, the company’s stock increased by four percent thanks to renewed interest.
RIM shares are up nearly 80 percent since late September.
In its assessment, Goldman analysts gave the company’s BlackBerry 10 a 30 percent chance of success based on the platform’s early reviews. According to Goldman Sachs analysts:
“Interest by carriers and consumers in broadening the field beyond Android/iOS.”
BlackBerry 10 was delayed from 2012 to early 2013. Following the delay announcement, RIM shares began to tumble under fears that the company would not recover from its long lapse in releasing a new mobile operating system.
To slow its decline, RIM has fired thousands of workers and has begun to fully restructure itself as a lean mobile company.
Some analysts believe that customers looking for an iOS/Android alternative may turn to the smartphone company that helped usher in more powerful business devices for professionals.
Things have been looking up for RIM since Q2 2012 when officials announced that the company’s cost cutting measures were helping reduce charges.
BlackBerry 10 is launching in January 2013, and whether or not consumers will take to the OS is anyone’s guess. As the Microsoft Phone platform has taught us, a great looking, consumer-friendly mobile OS does not automatically mean success.