RIMM third-quarter profit 7% increase: strong BlackBerry sales

RIMM (Research In Motion Ltd.) have reported a third-quarter profit increase of 7%, which is in line with what the company had forecast. RIM has said that these strong holiday sales are a direct result of sales of a range of new BlackBerry handsets, this is despite the fact that we are in a recession.

RIM has said that although they are in challenging general economic conditions, they have entered the fourth quarter with strong momentum. In the quarter ending November 29, RIM’s net income was $396.3 million, which amounts to 69 cents per share, overall revenue rose to $2.78 from $1.67 billion the year before.

There are two reasons for these great earnings; the first was the launch of the BlackBerry Bold, which hit stores in November. RIM launched another Smartphone in November, the Storm, which was the first touchscreen BlackBerry.

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