New Subscribers Drive R.I.M.’s Quarter
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Research In Motion, the maker of the BlackBerry device, said Wednesday that its fourth-quarter profit and sales more than doubled as it increased its subscriber base and shipped about 4.4 million of its smart phones.
An analyst with Canaccord Adams, Peter Misek, called it a “monster quarter” and said R.I.M. had benefited from Apple’s introduction of the iPhone, which brought attention to the smart phone market.
“People are staring to realize, ‘Why should I buy a Razr when I can buy a BlackBerry or an iPhone?’ I think the iPhone was the single biggest blessing R.I.M. ever had,” Mr. Misek said.
He said sales of the BlackBerry are accelerating.