Well, what do you know, it looks like Apple’s ambitious messaging service unveiled Monday as part of the iOS 5 software is seen as a threat to Research In Motion’s popular BlackBerry Messenger instant messaging protocol for BlackBerry devices. According to TechRadar, investors punished the BlackBerry maker’s stock Tuesday as they digested Apple’s iMessage:
iMessage announced by Apple on Monday will challenge RIM’s highly popular BlackBerry Messenger (BBM) instant chat service which has given the Canadian company an edge over its rivals. The Apple announcement made investors more jittery, plunging RIM stock on both the Toronto Stock Exchange and Wall Street Tuesday. It slipped more than three percent in Toronto to close at $36.92, and 2.8 percent on Nasdaq to close at $37.82.
Why are investors worried about iMessage affecting RIM’s chat service?