Research In Motion Stock
December 17, 2011 by staff
Research In Motion Stock, RIM’s most recent quarterly report wasn’t a total disaster, but it wasn’t good, either. The company reported revenue of $5.2 billion, which is up 24% from the previous quarter, but net income was down 71% from the year-ago quarter at $265 million. The revenue breakdown for the quarter was approximately 79% for hardware, 19% for service, and 2% for software and other revenue.
The company shipped 14.1 million BlackBerry smartphones–in line with expectations–and 150,000 PlayBook tablets. RIM says that the total number of subscribers has risen to about 75 million, up 35% from last year.
That’s where the good news stops.
During a call with press on Thursday, RIM dropped a bomb: its next-generation smartphone won’t ship during the first half of the year, as expected. Instead, it won’t be ready until “the latter part” of 2012.
The reason for the delay, said RIM, is because it has chosen a dual-core LTE chipset for these new phones that won’t be available until mid-June. RIM believes this new chip is a vital component for its next-generation of smartphones.
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