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Digital Life

BlackBerry stock falls after Apple-IBM deal to offer custom-tailored apps for businesses

Published on Jul 16, 2014 10:48 PM

MONTREAL (AFP) - Blackberry stock fell sharply on Wednesday, one day after the announcement of a landmark deal between rivals Apple and IBM to offer custom-tailored apps for businesses.

At around 2.40pm GMT, Blackberry shares were down 5.58 per cent to US$10.68, after falling 6.3 per cent when the markets opened in New York.

Blackberry helped create a culture of mobile users glued to smartphones, but consumers have moved in droves to iPhones and devices using Google's Android software. The deal between Apple and IBM seemed likely to hasten the Waterloo, Ontario-based company's demise.

After posting record losses last year, Blackberry brought in new management and outsourced its handset production to Taiwan-based Foxconn.

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