iPhones being tested for corporate security

By
A A A

Bank of America ( BAC ) and Citigroup ( C ) are quietly deciding whether to allow their employees to use the iPhone rather than company-issued Blackberries for official business purposes,  unnamed sources told Bloomberg .

The battle between the Apple ( AAPL ) and Research in Motion ( RIMM ) smartphones was seemingly inevitable as iPhone performance and use has been soaring while Blackberry's market presence has been reeling. Further, many employees at both companies have been secretly using their iPhones for business purposes.

"The result is RIM now has real competition for corporate customers," Roger Entner, head of telecom research at Nielsen Co, told Bloomberg. "RIM clearly has to defend its turf. Superb e-mail is no longer enough. RIM has to evolve."

Thus far this year on NASDAQ Stock Market trading, Ontario-based Research in Motion has lost 18 percent while Apple has scaled 50 percent. Apple chief executive officer Steve Jobs said in October that Procter & Gamble ( PG ), General Electric ( GE ) and JP Morgan Chase & Co (AMJ.SO) are among the 80 percent of the Fortune 500 companies using or testing the iPhone for official use.

According to unnamed people speaking about non-public plans, both Bank of America and Citigroup are testing software on the iPhone, in an effort to ensure the security is strong enough for company messages.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: Personal Finance , Technology

Referenced Stocks: AAPL , BAC , C , GE , PG , RIMM

NASDAQ.com News

NASDAQ.com News

More from NASDAQ.com News:

Related Videos

Stocks

Referenced

Most Active by Volume

270,887,127
    $93.89 unch
225,243,115
  • $40.93 ▼ 2.74%
135,900,109
  • $47.52 ▲ 1.80%
89,467,924
  • $5.35 ▼ 1.11%
85,105,358
  • $16.95 ▼ 0.53%
80,748,539
  • $39.80 ▼ 4.21%
68,491,586
  • $3.57 ▼ 1.79%
62,097,356
  • $100.96 ▼ 0.82%
As of 9/19/2014, 04:15 PM

Find a Credit Card

Select a credit card product by:
Select an offer:
Search
Data Provided by BankRate.com