RIM records big jump in revenue

BlackBerry remains the biggest smartphone seller on the planet

Research in Motion (RIM) is showing no sign of being affected by competition from the iPhone as it posted impressive financial figures for the past fiscal year.

The BlackBerry manufacturer saw its revenue grow by a whopping 35 per cent over the past 12 months to hit $15bn (£9.8bn), up from $11bn (£7bn) last year.

Shipments of its devices also grew 40 per cent to reach 37 million for the year. Some 10.5 million shipped in the fourth quarter alone, ensuring the company retained its position as the biggest-selling smartphone manufacturer.

The firm also saw its subscriber base grow by 65 per cent over the year to reach 41 million, with a record 4.9 million new customers added in the fourth quarter.

Co-chief executive Jim Balsillie said the results represented a big year for the company.

"We managed to significantly expand our international market share while also maintaining our longstanding leadership in North America where BlackBerry continues to be the top-selling smartphone brand,” he said.

Analyst Tim Renowden from Ovum's device team agreed that the results reflected the strong position RIM had created for itself in overseas markets. He also said RIM had no immediate reason to fear the growth in sales of Apple's iPhone.

"RIM has always been big in North America but it has now pushed this into other markets and has grown strongly. It remains the biggest smartphone player on the market and although it needs to be aware of Apple's growth, there's no need to panic," he said.

He added that for RIM to continue its success it needed to keep innovating with new models and services.

"The firm said it would be launching devices with higher average selling prices than some of its other devices, suggesting it may be adding to its Storm range. It has already confirmed it's making a new web browser but other development could be in store too," he said.