RIM and Palm issue quarterly financial results as Apple launches the iPhone
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Published:
Week 27
June 2007 -
Image Source:
CCS Insight
News:
RIM and Palm have both issued their quarterly financial results revealing widely contrasting performances.
Palm recorded revenue of $401.3 million compared to $403.1 million in the same period of 2006 while net profit declined more sharply from $27.2 million in the fiscal fourth quarter of 2006 to $15.4 million. Although sell through of its smartphones reached a record high of 750,000 units constituting year on year growth of 43 percent (730,000 units were shipped during the quarter), Palm maintained its reliance on the North American market for volumes with little impetus coming from Europe or Asia.
In contrast, RIM recorded growth of 76.5 percent in revenue year on year to $1.082 billion with net profit increasing by 73 percent to $223.2 million. In addition, both segment and geographic expansion drove its total subscriber base to 9 million with device shipments of approximately 2.4 million units in the quarter.
