BlackBerry Inc. (NASDAQ:BBRY), the smartphone developer of the new Z10 and Q10, has already benefited from changing its name from Research in Motion and stock symbol. Shares of the company have soared more than 12 percent on Monday to $14.59.
The share boost effectively boosted the Waterloo, Ontario company’s market valuation to $6.83 billion, still miles below that of its rival Apple Inc. (NASDAQ:AAPL), the most valuable technology company, valued at $417.8 billion. Apple shares fell $7.71 to $445.91 in midday trading.
Last week, BlackBerry formally introduced the new smartphones in its BlackBerry 10 line and started selling them in the UK. They go on sale this week in Canada and sometime next month in the U.S.
CEO Thorstein Heins introduced the long-awaited models in New York last week in hopes BlackBerry’s 80 million subscribers will buy them and customers who’d opted for iOS or Android-based units from rivals would switch.
During Sunday’s Super Bowl, BlackBerry also spent $4 million for a 30-second commercial highlighting the new smartphones to the huge audience depicting a young man using the Z10 apparently bursting into flames, stopping an out-of-control tanker truck and other feats with the tag line, “it’s easier to show you what the Z10 can’t do.”
The commercial was prepared by London-based Abbott Mead Vickers BBDO, a unit of Omnicom Group (NYSE:OMC), the third-largest global advertising agency. Omnicom shares fell 82 cents to $53.71.
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