BlackBerry Sales Fall Below Expectations

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Fewer BlackBerry phones were shipped during the recent quarter, parent company Research in Motion (RIM) disclosed, causing a sell off of it stock on Thursday.

BlackBerry BoldRIM said it shipped 10.6 million BlackBerry devices in Q2, down from the 12.1 million BlackBerries shipped in the same quarter last year. It’s also down from 13.2 million units shipped in the previous quarter.

PlayBook tablet shipments also fell to 200,000, compared to 500,000 in the first quarter.

Shares of RIM fell by about 20 percent Thursday as RIM posted a profit of $329 million for the quarter ended August 27 compared to $797 million a year ago. Revenues fell 10% to $4.17 billion.

RIM blamed the results on consumers who are waiting for the next generation BlackBerry due next year, which will feature the new QNX operating system.

The BlackBerry’s share of the smartphone market has dropped recently from 25.7 percent to 21.7% in just three months as competition mounts from the iPhone, expected to expand to Sprint customers in coming months, and from Android-based smartphones.

Source: Reuters, Mashable, Wall Street Journal

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