Blackberry maker RIM lowers outlook as iPhone turns up heat
Silicon Valley / San Jose Business Journal
Palm Inc.'s and Apple Inc.'s smartphone rival Research in Motion Ltd. lowered its outlook for its latest quarter in the face of declining demand and more competition.
The BlackBerry maker (NASDAQ:RIMM) said forecast earnings will be between 81 cents and 83 cents a share on revenue of $2.75 billion to $2.78 billion for the fiscal third quarter which ended Saturday. That compares with a September projection of between 89 cents and 97 cents profit on sales between $2.95 billion and $3.1 billion.
The company said that the number of new BlackBerry accounts was about 2.6 million. That is below its previous forecast of 2.9 million, but shows a 57 increase from last year.
Earlier this week, Sunnyvale-based Palm (NASDAQ:PALM) also said sales for its latest quarter would be below expectations.
Meanwhile, a report issued Tuesday by Needham & Co. said Apple's (NASDAQ:AAPL) iPhone accounted for nearly all of the growth in the smartphone market in an earlier three-month period ending in September.
The firm reported a 28.6 percent rise in worldwide smartphone shipments in the period. Writing in the report, analyst Charles Wolf said, "Apple’s iPhone 3G, introduced in July, is the only reason smartphone growth did not slow in September. Apple shipped almost 7 million iPhones in the quarter, accounting for all of the sequential shipment growth in the quarter and then some."
Latest News |
Most Viewed Stories |
Most Emailed Stories |
