Celebration time at RIM

Posted by | December 21, 2007 | Business | No Comments

Santa seems to have descended in the premises of Research In Motion or RIM the makers of Blackberry, a little early this year. According to an article in CNet News, RIM is celebrating due to the upbeat third quarter earnings, much higher than its expected level. RIM has earned around $370.5 million as compared to around $175.2 million earned last year.

It is estimated that more than 30% of its client base are non enterprise clients. Added statistics reveal that about 1.65 million blackberry users have been added to the list. It has also shipped about 3.9 million devices. Black Friday seems to have been the most profitable day of the year. The more than estimated forecast earning led to the soaring of the share high on Thursday to around 11.2% before it closed at $106.99 on Thursday. Though many are skeptical if RIM would maintain its robust growth, insiders are confident that the corporate demand is quite high and would fuel its growth.

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