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Wednesday, October 24, 2007

Research in Motion signs deal in China - Market reacts

Apple is not the only smartphone manufacturer that is seeing dollar signs these days. Research in Motion (RIM) and Alcatel-Lucent announced yesterday that they've signed an agreement to distribute BlackBerry smartphones in China. The stock market reacted by driving RIM shares up 8% and Alcatel-Lucent up by 4%. "This strategic partnership perfectly matches Alcatel-Lucent's global presence and strength in the Chinese market with the global awareness and popularity of RIM's BlackBerry brand," said Frederic Rose, president of Alcatel-Lucent's Asia Pacific activities.