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Research In Motion Profits Slump as Tablet Sales Collapse

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Research In Motion has recorded a 10 percent drop in its second quarter revenues, of USD4.2 billion, while net profit slumped to just USD329 million, compared to USD797 million a year ago.

However, the BlackBerry subscriber base grew 40% year over year to surpass 70 million.

The revenue breakdown for the quarter was approximately 73% for hardware, 24% for service, and 3% for software and other revenue. During the quarter, RIM shipped approximately 10.6 million BlackBerry smartphones.

The company also confirmed that it shipped approximately 200,000 BlackBerry PlayBook tablets, far short of earlier targets of 1.5 million units.

"Overall unit shipments in the quarter were slightly below our forecast due to lower than expected demand for older models," said Jim Balsillie, Co-CEO at Research In Motion. "We will continue to build on the success of the BlackBerry 7 launch to drive the business as we focus our development efforts on delivering the next generation, QNX-based mobile platform next year."

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