Monthly Archives: January 2013

Financial Post | Business

Facing pressure from online electronics retailers such as Amazon and Apple, Best Buy Canada will close 15 of its big box stores before opening smaller outlets.

The move, which represents about 10% of the retailer’s square footage in this country, will mean layoffs for an estimated 900 employees.

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FP0201-CLOSING-BEST-BUY“The retail landscape continues to change and our success is dependent upon our ability to evolve along with it,” Mike Pratt, president of Best Buy Canada said in a statement sent exclusively  to the Financial Post.

“By taking a proactive approach in transforming our operations now, I have no doubt we will be in the best position to continue innovating our store experience for consumers and grow into the next decade.”

The company, which is closing stores in the British Columbia, Quebec, Manitoba, Alberta and Ontario markets, will open a substantial, but unspecified number of its smaller Future Shop…

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Financial Post | Business

[np_storybar title=”BlackBerry reinvention should stretch all the way to the boardroom” link=”http://business.financialpost.com/2013/01/30/blackberry-10-smartphone-launch/”]Theresa Tedesco: Research In Motion Ltd. began its march to redemption Wednesday by unveiling two BlackBerry 10 smartphones — but why stop there? Read more
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Research In Motion Ltd’s glitzy unveiling of the long-delayed line of BlackBerry smartphones on Wednesday and a new corporate name failed to impress Wall Street analysts, with at least three downgrading the company’s stock.

RIM, which renamed itself BlackBerry, showcased two devices, Z10 and Q10, running on its new BB10 operating system as the smartphone pioneer looks for a fresh start.

“Despite recent enthusiasm for RIM’s new BB10 devices, we see limited scope for traction in the hypercompetitive smartphone market,” Credit Suisse analysts wrote in a note.

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FP0201-RIM
RIM faces an uphill struggle in terms of gaining smartphone market share, the Credit Suisse analysts said, downgrading the stock to “underperform” from “neutral”.

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Financial Post | Business

Everything about the revamped BlackBerry was new, and shiny and bristling with a crossed-fingers kind of optimism.

One of the greatest turnarounds in Canadian corporate history rests on a new product, a new name and a new direction as a niche player.

[np_storybar title=”Loyalists insist BlackBerry 10 kicks ‘crap’ out of the iPhone 5″ link=”http://business.financialpost.com/2013/01/30/blackberry-10-smartphones/”]Hundreds of so-called BlackBerry loyalists and journalists filled a downtown Toronto event space Wednesday for their first glimpses of the new devices and their unique features.

“Once I went BlackBerry, I haven’t gone back,” said Rajesh Kutty, a 32-year-old health-care entrepreneur based in Brampton.

Read more.
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Research In Motion Ltd. began its march to redemption by unveiling two state-of-the-art, next-generation smartphones Wednesday, one excruciatingly long — and costly — year behind schedule.

The touchscreen Z10 and the Q10, with a physical keyboard for BlackBerry purists, are the long-awaited progeny of the company’s new BB10…

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Financial Post | Business

NEW YORK — Research In Motion Ltd. is no more.

In front of a packed auditorium in New York City on Wednesday to introduce the next generation of its BlackBerry smartphones, RIM chief executive Thorsten Heins announced that the Waterloo, Ont.-based company is rebranding itself as simply “BlackBerry.”

The company announced it will begin trading on the Nasdaq Stock Market in New York under the ticker symbol “BBRY” and on the Toronto Stock Exchange under the ticker “BB.”

[np_storybar title=”10 Things We Learned About BlackBerry 10″ link=”http://business.financialpost.com/2013/01/30/blackberry-10-announcement-live-blog/”]

1. Research In Motion Ltd. will now be known as “BlackBerry” as the company rebrands.

2. BlackBerry will trade on the Nasdaq under BBRY ticker, as BB in Toronto.

3. Two devices announced, the Z10 (touchscreen) and Q10 (physical keyboard).

4. Z10 launches in Canada on Feb. 5, for $149.99 on 3 year contract.

5. Q10 expected to launch “in April”

6. Z10…

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Financial Post | Business

Research In Motion Ltd. finally unveiled BlackBerry 10 and its first two next-generation smartphones Wednesday as the embattled phone maker looks to turn around its fortunes.

While the operating system and devices have been much anticipated, one of the biggest surprises the Waterloo, Ont.-based company offered at the announcement was the death of its name. “From this point forward, RIM becomes Blackberry,” CEO Thorsten Heins said early in the event.

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The company will now trade under BBRY on the Nasdaq and BB on the Toronto Stock Exchange.

Although RIM shares had gained as much as 4% ahead of the launch in Wednesday morning trading, the stock later fell 7% from Tuesday’s closing price shortly after noon ET, to about $14.50 on the TSX following the presentation.

Among the features touted at Wednesday’s event:

— As you type, the operating system predicts what word you want and you can…

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