RIM: Big Plans for the Second Half

BlackBerry maker Research In Motion (RIMM) is benefiting from buoyant demand for smartphones, but not as much as some investors had hoped.

The Canadian company said on June 18 that fiscal first-quarter earnings rose 33%, to $1.12 a share, as sales jumped 53% from a year earlier.

RIM's performance reflects rising demand for smartphones, the handheld devices that offer e-mail and other features along with voice calling, even as consumers curtail spending on traditional cell phones and other electronics. The results also demonstrate that RIM is holding its own against formidable rivals, including Apple (AAPL), maker of the newly updated iPhone, and Palm (PALM), which earlier this month began selling the long-awaited Pre.

Read Full Article from BusinessWeek

- Posted: 2009-06-19 08:48:59

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