RIM shares shoot up on Microsoft promise -

Troubled mobile phone company RIM saw its shares jump yesterday after it signed a patent licensing deal with Microsoft to use one of the company's file storage systems.

According to ReutersVole said that the patent being licensed from RIM expands the size of files that flash memory devices can handle. This speeds up the way that those files can be accessed. The technology also provides the ability to transfer data between a variety of different devices.

Kevin Restivo, a mobile device analyst at global research firm IDC, said that this is money out of RIM's coffers for the right to use the ex-FAT patent in its technology.

Apparently there is more to it than that. What it does for investors is provide a glimpse into what the BlackBerry 10 devices can do.

RIM needs some good news. It has lost its dominant position in the smartphone market and the company is betting the farm on a new line of devices, the Blackberry 10, which, after some delay, is set to hit the market early in 2013.

There are some thoughts that with Vole licensing some of the technology, the Blackberry 10 might not be the lemon that many are expecting and it might have something under the bonnet which makes it useful

RIM shares closed 21 Canadian cents higher at C$7.24 on Tuesday on the Toronto Stock Exchange. On Nasdaq, they closed 2.3 percent higher at $7.42. This is the first rise in the share price the company has seen for ages. It should be opening the champers, but those bottles have probably been re-possessed.