RIM Shares Up On Report Of Samsung Interest

RIM Shares Up On Report Of Samsung Interest
Market News

Shares of Research In Motion Ltd. RIMM +6.93% jumped nearly 7% to $17.25 early Tuesday afternoon after a technology blog reported that the company is considering a sale to Korean electronics giant Samsung.

A report on the Boy Genius Report, citing unnamed sources, called a sale to Samsung a “front-runner” among several options currently being evaluated by RIM’s management.

“Jim is going hard after Samsung,” one source told the blog, referring to RIM co-CEO Jim Balsille.

The company has been in a deep slump of late, as sales of its BlackBerry line of smartphones have sunk in the wake of strong competition from the iPhone and devices running the Android mobile operating system.

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