RIM Falls to Lowest Level in Year as IPhone Heads to Verizon
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Research In Motion Ltd., maker of the BlackBerry smartphone, fell to its lowest level in more than a year following reports that Verizon Wireless, the largest U.S. wireless carrier, will start selling Apple Inc.’s iPhone.
RIM dropped $3.22, or 6.1 percent, to $49.75 after Bloomberg News reported that Verizon Wireless would start selling the iPhone to its customers in January, citing two people familiar with the plans. AT&T Inc., the country’s second-largest wireless carrier, has been the exclusive provider of the iPhone in the U.S.