50 Million Blackberry Sold Amid Recession
Research In Motion Limited (RIM) which manufactures Blackberry smartphones posted $3.46 billion in revenues in fourth-quarter of 2008 as sales of its Internet-enabled handsets increased despite financial recession which hit the global economy.
With an increased in sales and high demand, the company is boasting its financial viability despite the ongoing crisis.
Research In Motion Limited (RIM), the world’s leading wireless communications company, recorded a milestone after reaching the 50-million mark in Blackberry Smartphone sales, report said on Friday.
The company officials said the solid financial results in the fourth quarter provided a “big relief” in the after-market trading when it posted a record-high of $3.46 billion in revenues.
Records show the company’s sales increased by more than 84 percent compared to the same period last year. RIM has also shipped some 7.8 million BlackBerry devices during its fourth quarter, another milestone for the company.
RIM’s last quarter net profit also increased to $518.3 million from last year’s $412.5 million. Analysts said that RIM’s revenue increase can be attributed to the 3.9 million new BlackBerry units which are purchased by consumers despite the ongoing financial crisis, adding that the current economic slump did not affect the popularity of Smartphones.
Stock results were disclosed by the company after the Nasdaq trading hours. RIM said that their stock, during the regular trading hours, rose to 7.6 percent ($49.09) and jumped to 23.4 percent ($60.58), a record-high result for the company.
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