India’s Government Appears Ready to Pull the Plug on RIMM: Report

Shares of Research In Motion Limited (RIMM) continue to slide. Weakness being attributed to a story on renewed concern that India will ban RIM.

BGR reports, that “India’s government reiterated its stance on Research In Motion and other companies providing officials with access to monitor encrypted data.“It’s not a question of their giving access. Under law, they have to give access, everybody has to give access,” federal Home Secretary Gopal K. Pillai told reporters on Tuesday. “Whoever gives access will be allowed to operate. Whoever does not give access will not be allowed to operate.”

BGR notes that RIM has already stated publicly “that it does not have the capability to give the Indian government, or anyone else, access to emails sent and received using its corporate email solution.”

It remains to be seen if RIM will be able to satisfy the security needs both of Indian customers and the Indian government. If not, India, which has previously raised security concerns with BlackBerry services, appears to be inching closer to banning BlackBerry smartphones.

Shares of Waterloo, Canada.-based Research In Motion Ltd. are down 0.14% at $66.11 per share during Tuesday afternoon trading. Day’s range: $65.73 – $67.54.

About Ron Haruni 1033 Articles
Ron is the Co-Founder & Editor in Chief of Wall Street Pit. Web Site: Wall Street Pit

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