RIM Blackberry Sales Push Q3 Profit Up by 59 Percent
RIM Blackberry sales have pushed the company’s third quarter income up by more than 59 percent, which has surprised even the experts at Wall Street.
According to the Canadian company, the strong profit output was due to the stronger demand for its Smartphone lines outside the corporate world.
The maker of the popular Blackberry, Research in Motion Ltd (RIM), reported on Thursday a surprising increase in its third quarter profit, which was pegged at 59 percent growth rate due to the strong demand from its line of Smartphones.
Also, RIM said that strong gains in new subscribers have helped the company weather the strong in the wake of the economic recession that has hit the technology sector in the past year.
According to records, around 80 percent of the new subscribers were non-corporate customers who wanted to buy the popular Blackberry device over competitors like Apple Inc’s iPhone, Motorola Inc’s Droid, and Palm Inc’s Pre.
RIM said that these non-corporate customers will determine whether the Smartphone will make it further in the market.
In recent years, RIM has been focusing its products on corporate customers but low sales turn out has forced the company to expand its reach to a wider consumer range by releasing touch-screen models like the Blackberry Storm.
Records also showed that new subscribers for the Canadian company were made up of corporate clients. But with the release of the market driven Smartphones, the company’s third quarter sales showed that corporate clients only made up less than 20 percent of the total subscribership.
Wall Street said that RIM shares surged to more than 12 percent in the after hours of trading after the announcement.
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