Investors Shrug off New BlackBerry Release, Send RIM Shares Lower (RIMM)

Investors didn't appear all that impressed with Research in Motion's (NASDAQ: RIMM) release of two new BlackBerry smartphones Monday, sending the company's shares down more than 1%.

Shares of RIMM closed lower by $0.55 yesterday, or 1.13%, to $48.10.

According to a Research in Motion press release, both BlackBerries will carry "a 1.2 GHz processor, Liquid Graphics™ touch screen, and support for high speed 4G/HSPA+ wide area wireless networks."

"The new BlackBerry Bold smartphones and BlackBerry 7 OS are inspired by millions of customers around the world who want the ultimate combination of performance, functionality and style," said Mike Lazaridis, President and Co-CEO of RIM. “These fully-loaded and beautifully crafted smartphones offer a highly refined user experience with blazingly fast performance, a brilliant touch screen and an outstanding typing experience.”

The new BlackBerry Bold 9900 and 9930 smartphones are expected to be available from carriers around the world beginning this summer.

Tech blog Engadget.com comments that "From a design perspective it mixes BlackBerry's traditional formula with iPhone 4-like materials (that familiar stainless steel rim). It certainly looks premium and feels lovely in the hand, and the keyboard is typical BlackBerry -- which is to say fantastic. The screen is beautiful too, perfect to showcase that elusive new BlackBerry 7 OS. Still, we can't shake the feeling that we're looking at the device RIM should have shipped last summer instead of the lackluster Torch."

Research In Motion Limited is a designer, manufacturer and marketer of wireless solutions for the worldwide mobile communications market.