TORONTO – Despite already cut its profit forecast of approximately seven weeks ago, Research In Motion (RIM) closed the first quarter of 2011 with very disappointing results.
New York Times launched on Friday (06/17/2011), the BlackBerry manufacturer’s profit fell 9.6 percent compared to Q1 2010. If last year managed to reap profits RIM USD769 million, now they have to settle with number USD695 million.
In addition, RIM also reported only managed to sell 13.2 million BlackBerry during Q1, which is actually far below expectations. Canadian companies that seem increasingly depressed by the iPhone (Apple) and Android-based phone (Google) dominate the smartphone market.
However, RIM has yet managed to boost its revenue in the quarter, reaching $ 4, 9 billion. Raihan is up 16 percent compared to last year’s first quarter.
Playbook presence presumably contributes greatly to this achievement. RIM claims to have shipped as many as 500 thousand units Playbook since its launch two months ago. But RIM refused to specify how many units actually Playbook bought by consumers.