NewsJune 29, 2007
BlackBerry earnings soar while Palm disappoints
RIM, makers of the iconic BlackBerry range of smartphones saw their earning up 73% in the last quarter while one of their rivals, Palm, saw earnings fall to $15.4 million from $27.2 million in the same period in 2006.
The financial figures very much reflect the mood in the consumer market where the BlackBerry has pretty much maintained its status despite the imminent (i.e. today Apple fans!) launch of the iPhone, whereas Palm, which has not yet released a comparable device, is losing some of its mojo.
RIM shares rose by 16% in the wake of the announcements, whereas Palm shares slipped by 2%.
Quotes on CNN Money seem to suggest differing moods in two camps. While RIM remain bullish about the impact of the iPhone, even suggesting that it will help sales of convergence devices across the board, Palm seem to be pinning their hopes on the iPhone not living up to the hype.
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