iPhone helps RIM sell more BlackBerries
Far from hurting RIM’s BlackBerry devices, Apple seems to be helping the Canadian company sell more of their product. Research In Motion Ltd. saw its profit more than double last quarter and according to Canaccord Analyst Peter Misek, they might owe some of that success to the iPhone.
AP quoted Misek saying people are starting to realise, ‘Why should I buy a Razr when I can buy a BlackBerry or an iPhone?’ I think the iPhone was the single biggest blessing RIM ever had.”
Misek surmises that Apple’s iPhones helped introduce smartphones to a wider audience. Rather than being satisfied with phones that don’t do much more than take calls, send text messages and look pretty, the iPhone has helped consumers become more aware of feature-rich devices.
RIM earned $412.5 million, or 72 cents per share in its fourth quarter (ending March 1), which ended March 1. Compared to $187.4 million, or 33 cents per share, in the same period a year earlier, that’s a big improvement. Revenue was $1.88 billion, an increase from $930 million prior.
After being a staple in the corporate market, RIM is hoping to appeal to the consumer masses with push e-mail software for the non-business user.
“It’s much more of a mainstream thing,” co-CEO Jim Balsillie said on a conference call with analysts. RIM’s added 2.2 million new subscribers during the quarter, bringing the total to more than14 million, with an estimated 4.4 million smart phones sold.
Apple says it sold 2.3 million iPhones in the quarter ending Dec. 29, with a total of about 4 million in the six months since they launched the phone.
Guess there doesn’t always have to be losers in the smartphone race – and in Apple and RIM’s case, they both come out winners.
Related Posts:
