BlackBerry maker RIM see sales and profit increase

Device sales bolster RIM financial results

BlackBerry maker Research In Motion (RIM) has posted strong revenue figures of $3.42bn (£2.1bn) for the first quarter of its 2010 fiscal year, an increase of 24.5 per cent from the previous quarter.

Net income for the quarter was $643m (£315.2m), compared with last quarter's figure of $518.3m, and $482.5m for the same quarter last year.

RIM's revenue for fiscal year 2009, which ended on 28 February, was $11.07bn (£6.7bn), up 84 per cent on last year's $6.01bn figure. The firm shipped 26 million devices in the past year and 3.8 million in the fourth quarter.

“We're starting fiscal 2010 with strong financial performance and we have a 55 per cent share of the US smartphone market according to IDC’s latest estimate,” said RIM co-chief executive Jim Balsillie.

The supplier's reliance on hardware sales was highlighted by 83 per cent of revenue coming from devices, while 12 per cent came from services, two per cent for software and three per cent from other areas.

RIM recently launched the 3G-capable BlackBerry Tour smartphone, and although not specifically announced in the UK, RIM said it can be used on 3G UMTS/HSPA networks operating on the 2100MHz radio frequency.