RIM closes fiscal 2010 on a high
Research In Motion (RIM), maker of the Blackberry mobile handset, has posted fourth quarter and full-year earnings for the period ending 27 February and despite intensifying competition has claimed the top spot in the North American smartphone market.
Full-year sales rose 35% over 2009 to $14.95bn, while fourth quarter sales were up 18% year-on-year to $4.08bn.
Net income for financial 2010 was up 29.8% to $2.46bn. In the final quarter RIM turned a profit of $710m, up 37% year-on-year.
The comparative youth of the smartphone market against more traditional ICT hardware sectors was again demonstrated as RIM made 80% of its sales came from devices and 16% from services. It shipped 37 million units last year, 10.5 million during the fourth quarter.
RIM has been facing down competition from Apple's iPhone device since mid-2007 but competitors are now attempting to gain marketshare in the sector, with firms such as HTC and Nokia giving RIM a run for its money.
Despite this Balsillie remained upbeat, saying: "We are very excited about our portfolio of products and services for the coming year and we continue to see exceptional opportunity for sustained growth."