RIM Q1 Results Show 5.4m BlackBerrys Sold

Take that iPhone...

Apple may have its sights set firmly on RIM’s smartphone business market share with the impending release of Firmware 2.0 and the iPhone 3G, but the challenge may be far larger than it anticipated…

You see while almost 6m iPhones have been sold as it approaches one full year on sale RIM has revealed it shipped 5.4m BlackBerrys ”in a single quarter”. The news comes with the company’s impressive Q1 financial results and suggests it isn’t ready to be intimidated by anyone. Let’s crunch the numbers:

Revenue for the quarter was a stonking $2.24bn, up 19 per cent from its last quarter and up an incredible 107 per cent from Q1 2007. Of this total 82 per cent was gained through device sales with 13 per cent from services, three per cent from software and two per cent from other revenue. Come the end of Q1 more BlackBerry had also amassed a monstrous 16m active subscribers in its account base.

Net income was strong too at $482.5m, a major increase from $412.5m in Q4 and a hop, skip and long jump ahead of the $223.2m in Q1 2007.

“We are pleased to report another record quarter with revenue increasing 107% as the popularity of the BlackBerry platform continued to spread in business, government and consumer segments,” said an understandably chuffed Jim Balsillie, RIM CEO. “Our comprehensive technology and business strategies continue to reap strong results in the market and RIM is well positioned to build on its momentum throughout the remainder of fiscal 2009. As we prepare this summer to ship our 40 millionth BlackBerry smartphone, we continue to steadily scale our business and partnerships to support the opportunities ahead in this thriving sector.”

Apple, that’s fightin’ talk…

Press Release

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