RIMM to Storm Smartphone Market

Research In Motion (RIMM - Analyst Report) is likely to introduce its BlackBerry Storm2 in September. Yesterday, Verizon Wireless (VZ - Analyst Report) slashed the price of the currently available BlackBerry Storm 9530 smart-phone to $50 with a two-year service contract. Industry sources infer that this may be an indication for the early launch of BlackBerry Storm2 as both companies gear up for the new smartphone.

Launched in November last year, Research In Motion’s first touch-screen mobile handset Storm aimed to counter the growing popularity of Apple Inc.’s (AAPL - Analyst Report) iconic iPhone. The launch of Storm2 in September/October would cut the older version’s lifetime to less than a year, indicating cut-throat competition in the smart-phone industry.

This market is getting increasingly crowded with new players and should witness intense competition going forward. In addition to Research In Motion, Apple and Palm Inc. (PALM), Nokia Corp. (NOK - Analyst Report) and Samsung have launched a series of novel products. Motorola (MOT), Google Inc. (GOOG - Analyst Report), HTC and LG Electronics are other new entrants in the smartphone market.

BlackBerry Storm2 is expected to incorporate Wi-Fi technology, which was considered a downside of the original Storm. Storm2 would replace the existing “SurePress” tool with a new touch-screen technology called “TruePress”, which will make typing on the device much easier. The new device is also likely to have a 5-megapixel camera. Research In Motion recently acquired Torch Mobile, a web-based software and application developer to strengthen the BlackBerry’s web-browsing facilities.

The smartphone mobile market is growing continuously. The next-generation technology of converged mobile computing enables a smartphone to function like a fully operational computing device. Research In Motion has been able to successfully differentiate its BlackBerry products from other products in the communications market. Demand has been overwhelming for its BlackBerry Bold, Storm, Pearl Flip 8230 and BlackBerry 8830 World editions. Newly launched BlackBerry Tour received encouraging market traction. We expect Storm2 to further boost the company’s top line growing forward.

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