RIM results show slight revenue dip but overall growth

Revenue up

Smartphones continue to beat the recession with BlackBerry maker RIM showing a revenue rise in its fiscal 2010 first quarter of 53 per cent compared to the same quarter last year.

There was a slight dip in revenue compared with the previous quarter, dropping from $3.46 billion to $3.42 billion but the company still managed to ship 7.8 million devices.

"The industry leading BlackBerry product portfolio is driving strong customer demand around the world and our penetration of new market segments continues to expand," Jim Balsillie, co-chief executive for RIM, said in a statement.

"We are particularly excited about the strength of our product portfolio for fiscal 2010 and we are looking forward to driving continued growth and profitability in our business throughout the remainder of the year."

There were 3.8 million new subscriber accounts for Blackberry in the quarter which brought the total up to 28.5 million.

Balsilllie also quoted recent IDC figures showing the company has a 55 per cent share of the US smartphone market.

Jennifer Scott

Jennifer Scott is a former freelance journalist and currently political reporter for Sky News. She has a varied writing history, having started her career at Dennis Publishing, working in various roles across its business technology titles, including ITPro. Jennifer has specialised in a number of areas over the years and has produced a wealth of content for ITPro, focusing largely on data storage, networking, cloud computing, and telecommunications.

Most recently Jennifer has turned her skills to the political sphere and broadcast journalism, where she has worked for the BBC as a political reporter, before moving to Sky News.