BlackBerry name change approved by shareholders

Ontario: Research In Motion has won formal approval to change its name to BlackBerry.

The Canadian company announced plans for the name change in January, when it unveiled new phones running a revamped operating system called BlackBerry 10. The company hopes the new devices will be more competitive with iPhones and Android devices.

Since January, Research In Motion Ltd. has been going by BlackBerry in marketing materials. It has also changed its ticker symbol to "BBRY." But a legal name change required shareholders' approval at Tuesday's annual meeting.

The new name comes as BlackBerry faces questions about how its growth and survival.

CEO Thorsten Heins told shareholders that BlackBerry is in the second stage of its turnaround. Stage three, he says, includes profitability.

BlackBerry shares were hammered last month after the company's financial results fell short of expectations.