Research in Motion is selling copious smartphones despite economy

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A lot of the information I am about to post has already been described in previous stock market and share analysis reports. I am reposting this because the numbers are presented in various ways and it’s nice to get a reminder that the economy isn’t in total shambles.

That being said, RIM has sold its 50 millionth BlackBerry! While everyone is talking about these TETs (tough economic times), RIM isn’t blinking and continuing to sell smartphones and saturate the market with hands-down the best device.

RIM reported record high revenue of US$3.46 billion in their most recent quarter, up 84 percent compared to the same time last year, as it shipped 7.8 million devices, also a new high for the company. Net profit for the quarter rose to $518.3 million, up from $412.5 million last year. RIM has also added 3.9 million new BlackBerry subscribers!

Smartphone sales are a sure bet these days. Surveys of family expenditures during the holidays report that half of respondents say they would buy electronic devices before the end of the year. Expect many of these electronic devices to be smartphones.

[Via]