RIM CEO Jim Balsillie Denies RIM-PALM Rumor at C3 Conference
Research In Motion Ltd. (RIM) Co-CEO Jim Balsillie has denied rumors of a Palm/RIM merger
tomorrow (06/29/2006). Today at the C3 conference in New York, Balsillie was quoted as saying, "Our view is there is diversity in handhelds," and "We don't have grand ambitions to consolidate the handheld business any more than we have ambitions to exit the handheld business.''
Since the Palm/RIM merger rumors started circulating the web earlier in the week, Palm's market cap has grown over $100 million.
While this pretty much puts an end to that rumor, the handheld market is still fun and exciting. It will be interesting to see how RIM and Palm deal with the pressure from Windows Mobile 5 devices and any potentially new devices from companies such as Apple.