RIM posts 33% annual sales increase as it prepares for Playbook launch


RIM posts 33% annual sales increase as it prepares for Playbook launch

Jenny Williams

Blackberry maker Research in Motion (RIM) has posted a 33% increase in sales for its fiscal year 2011 compared to the previous year.

For the fourth quarter ending 26 February 2011, profit rose 32% and sales were up 36% compared to the same period in 2010. Sales rose from $4.1bn in 2010 to $5.6bn in 2011.

"We are pleased to report record shipments and financial performance for fiscal 2011," said Jim Balsillie, co-CEO at RIM.

"We are laying a strong foundation for RIM's expanding market opportunity through focused investments and we are extremely excited about our smartphone, tablet and platform roadmaps."

However, according to the Financial Times, shares in the Canadian company fell 12% in after-hours trading, suggesting financial results fell short of expectations.

RIM says its outlook for fiscal 2012 reflects increased investment in research and development as well as sales and marketing for its new Blackberry Playbook tablet and platform.

"The guidance is slightly wider than normal to reflect the risk of potential disruption in RIM's supply chain as a result of the recent earthquake in Japan," the company said.

RIM also announced it will extend the application ecosystem for its Playbook to support Java and Android apps, which can be downloaded from its app store, Blackberry App World.

The Blackberry Playbook is due to launch on 19 April 2011.

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