In this May 13, 2014 file photo, BlackBerry CEO John Chen delivers a speech at the launch of the new Blackberry Z3 smartphone in Jakarta, Indonesia.
Apple's big partnership with IBM is proving to be bad news for at least one major tech company:BlackBerry.
BlackBerry's stock dipped by nearly 10% in midday trading Wednesday following the announcement late Tuesday that Apple is partnering with IBM to offer special iPads and iPhones to enterprise customers.
The enterprise mobile space was traditionally a weak spot for Apple and an asset for BlackBerry. Following the announcement, some analysts questioned whether Apple and IBM might chip away at BlackBerry's foothold in the space at a time when the company is still in the middle of a turnaround effort.
“This deal could be a meaningful negative for BlackBerry as it attempts to leverage its remaining enterprise clout to turn around the business," R.W. Baird, a senior research analyst with William Power, wrote in an investor note.
BBRY data by YCharts
Other analysts took a more charitable view of BlackBerry.
"This is just another piece of competition," Colin Gillis, an analyst with BGC Partners, toldMashable. IBM and Apple are "big names," he said, "but they still have a lot of ground to cover to gain traction" in the enterprise space.
After a dismal 2013, BlackBerry showed some signs of stabilizing the business in its most recent earnings report. Its stock is still up year-to-date even with the nearly double digit percent decline in price on Wednesday.
As Gillis argues, BlackBerry's future survival depends on it being a "niche player" with a loyal group of customers. But if Apple and IBM succeed in the enterprise space, BlackBerry may be a little more niche than some had thought.
Tags: Apple, BLACKBERRY, BUSINESS, IBM, STOCKS