RIM announces revenue rise

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Research in Motion (RIM) has announced an 84 per cent rise in revenue in its last quarter.

Many companies are facing tough economic times in this recession, such as Sony Ericsson predicting huge losses, yet RIM has managed to secure its place as one of the leaders in the field.

The figures released show revenue for the fourth quarter was $3.46 billion, up 24.5 per cent from $2.78 billion in the previous quarter and up 84 per cent from $1.88 billion in the same quarter of last year. Revenue for the financial year that ended on 28 February was $11.07 billion, up 84 per cent from $6.01 billion last year.

Jim Balsillie, co-chief executive at RIM, said: "RIM experienced an extraordinary year in fiscal 2009, shipping our 50 millionth BlackBerry smartphone and generating $11 billion in revenue.”

“Looking ahead into fiscal 2010, we see exceptional opportunities for RIM and its partners to leverage the investments and success of the past year to continue growing market share and profitability."

At the end of this successful quarter, RIM stated that its Blackberry subscriber account base totalled 25 million.

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