SEC filing shows RIM sales down in key international markets

A new SEC filing by Research In Motion (RIM), the maker of the popular BlackBerry smartphone, shows sales figures for the latest quarter segmented by geographic areas.

RIM previously reported an aggregate sales number, reporting aggregate sales were up just over 10-percent in the quarter.

However, according to the SEC filing, most of that growth came from the United States, with other key international markets reporting a decrease in sales over the same period last year.

The North American market sales were up 8.6-percent, while the Canadian market declined by 3.3-percent in sales, along with declines in the international market segment with sales being down by 1.4-percent.

Research In Motion is facing intensifying competition from chief rivals such as Apple, who released its hugely anticipated iPhone 4, that saw hundreds lined up outside Apple stores in New York City, among other parts of the United States.

Apple has sold 1.7-million iPhone 4 devices in only three days.

Wall Street remains unsure about RIM given the intensifying competition.

The RIM stock (TSE:RIM) has been on a downward trend over the past few months, trading today at $54 per share, compared to about $75 per share at the beginning of April.


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Tahir holds a Bachelor Commerce Finance degree from Ryerson University in Toronto. He is planning to purse an MBA in Finance. Write to tahir@business2press.com
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