New Smart Phone Soon?

The former smartphone darling, Research in Motion (RIMM), may soon release a new touchscreen BlackBerry which would compete directly with Apple’s iPhone 4 and other high end smartphones on the market. Rumors of the device being an iPhone killer have been making rounds in the investment community.

CNET is reporting that the new phone may be launched at an event in New York City in the coming week and will add even more competition to the already cut throat industry.

Shaw Wu of Kaufman Bros. wrote in a note to clients on Wednesday,

“As we said before, we believe the new user interface with multi-touch technology and WebKit-based browser closes the gap materially against Android and iPhone.”

It is also speculated that the BlackBerry 9800 will be the first to be based on Blackberry OS 6, RIMM’s new operating system. Blackberry OS 6 comes with a new Web browser, a touch screen, and a full slide-out keyboard for the those who prefer solid keys to multi touch technology.

RIMM has profited nicely from its low-end BlackBerry devices, but sales are starting to decline with its high-end smartphones with the increasing competition for marketshare. This is especially true in North America, due to competition from Google’s Android platform and Apple’s line of iPhones. Reuters is also reporting that the company faces increased competition in the enterprise market as more companies are embracing competitors products.

On the charts, RIMM looks to be building a nice area of consolidation, perhaps price will break above on imminent good news.

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