Research in Motion Friday said it has reported a 27% fall in its quarterly profit, the news reports said. The maker of the BlackBerry line of smartphones said it would like to ship between 11 million and 12 million BlackBerry smartphones in the weeks around Christmas.
The Canadian multinational telecommunications company generated revenue of US$5.17 billion compared with US$5.5 billion a year earlier. The company’s already depressed shares shed more than 6% at US$667 million or US$1.27 a share, in its third quarter ended on November 26.
The analyts on an average had anticipated RIM to earn US$1.19 a share on sales of US$5.265 billion after the struggling Canadian company warned on profit, revenue and shipments on December 2.
In the third quarter a year earlier, RIM made US$911.1 million or US$1.74 a share. For the current quarter, the Canadian multinational telecommunications company expects to make between 80 and 95 cents a share on revenue of between US$4.6 billion and US$4.9 billion.
The Ontario-based company said it has failed to match the popularity of Apple’s iPhone and iPad or the slew of devices from the likes of Samsung and HTC Corp that make use of Google’s Andriod software.
Research in Motion Ltd or RIM is a Canadian multinational telecommunications company based in Canada. It designs, manufactures, and markets wireless solutions for the worldwide mobile communications market.
The company’s portfolio includes the BlackBerry wireless solution, the RIM Wireless handheld product line, software development tools and other software and hardware.
