RIM 3Q Profit Up 59 Pct On Record BlackBerry Sales
RIM is known for its popular messaging phones that some can't live without. Before he took office, President Barack Obama lobbied successfully to keep his BlackBerry despite security concerns.
But among investors there has been fears about RIM's future in recent months as the stock dropped more than 25 percent after its last earnings report. The BlackBerry's Web browser and phone apps are perceived to be less stellar than the iPhone's. Apple's stock has soared in recent months.
Verizon, a U.S. carrier estimated to represent about 28 percent of RIM revenue last quarter, recently launched a massive marketing campaign for Motorola's Droid smartphone. Verizon has historically heavily marketed the Blackberry device.
Balsillie acknowledged Verizon is an important strategic partner."You can't force love," he said. "Some carriers are feeling quite concerned about how they maintain their relevance. We like to be an agent of that relevance for them." Balsillie said RIM had its strongest quarter ever for growth outside of North America with 37 percent of revenue coming from overseas and approximately 35 percent of the BlackBerry subscriber base now located outside of North America. He announced a partnership with China Telecom, a week after reaching a similar deal with China Mobile. He said RIM is considering China for manufacturing and research and development opportunities.
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