For the first time ever, Research in Motion lost its top position in the corporate market in its homeland Canada. And the winner is, as expected, Apple's iPhone, according to a recent Bloomberg report.
The Ontario-based company enjoyed for many years the loyalty of its customers preferring the homegrown brand over Apple's products. Now, for the first time, the market shifted in Apple's favour and the situation has proved to be of significant strategic importance.
According to Paul Taylor, a fund manager at BMO Harris Private Banking in Toronto: "It does identify, even with a home-country bias, how consumers are responding to the greater functionality of the iPhone."
The largest banks in Canada and federal government agencies remain loyal to RIM and BlackBerry smartphones are the only handsets issued for employees. As a result, last year RIM shipped 2.08 million BlackBerry smartphones, compared to 2.85 million iPhones Apple managed to sell in Canada.
During the previous year, a half of million more customers preferred BlackBerry smartphones to iPhones while in 2008 RIM sold five times more smartphones than Apple. For RIM everything seems to go downhill, despite recent product releases, with shares now down 91% from the 2008 record. Last year alone, RIM lost 75% of its stock value.