Report: RIM Worth Less Than Apple’s App Store, Alone
A new report is alleging that Research In Motion ($RIMM) is now worth less than Apple’ App Store, alone. RIM is worth roughly about $6.8 Billion, after its huge loss this year to date. Currently, Apple is worth $354 billion. The Apple App Store comprises of 2% of their overall revenue. This means the App Store contributes $7.08 Billion to Apple’s market cap.
These are trying times for RIM. We’re still confident RIM can hold it together. We already mentioned it was possibly a good thing the BlackBerry 10 phones have been slightly delayed for better LTE chipsets. Nevertheless, RIM needs to wisely use their $100 Million marketing campaign to show the strengths of the PlayBook and BlackBerry 7 products. RIM can no longer afford letting the ‘iconic product’ sell itself.