TORONTO, Aug 8 (Reuters) - Shares of Research in Motion rose more than 5 percent early on Wednesday after an influential analyst said the embattled BlackBerry maker may look to license its new operating system to Samsung Electronics Co.
Jefferies & Co analyst Peter Misek said RIM’s strategic review process, begun earlier this year, will likely result in the Canadian company concluding that it needs to license its BlackBerry 10, or BB10, operating system, now under development.
“Given recent management comments in the press, it now appears that RIM is realizing what Wall Street has been saying for some time: they are a subscale manufacturer and desperately need a partner,” Misek wrote in a research note on Tuesday.
“We believe RIM is attempting to revive discussions with Samsung regarding a BB10 licensing deal.”
The South Korean smartphone maker is the world’s largest smartphone maker and one of the largest sellers of phones that run on Go ogle Inc’s Android o perating system.
Shares of RIM, which has steadily been losing ground to Apple Inc’s iPhone and a number of devices running on Android, rose 5.6 percent to $7.72 in early trading on the Nasdaq.
RIM’s Toronto-listed shares were up 5.3 percent to C$7.71.
The stock has tumbled more than 80 percent since the beginning of 2011, when Apple and other smartphone makers started to widen their lead on RIM, which once dominated the business. (Reporting by Euan Rocha; Editing by Frank McGurty)