This RIM Is Still Spinning
Canadian-based Research In Motion (NYSE: RIM) has good reason to celebrate these days. It’s just launched a website where users can browse potential applications conveniently. It successfully developing an updated Smart Card Reader. And it just got recognized for all of its hard efforts.
Fortune magazine just put out its fastest-growing companies list, and RIM took top spot, with good reason.
Thanks to its Blackberry handsets, which are growing increasingly more popular, RIM’s profits have expanded 84% in the last three years. It’s revenues have increased by 77%, and as for it’s total return?
You can lock that in at an admirable 45%.
Add to that a largely favorable opinion by the public the thing is that enough people have a favorable opinion in both the product and the company’s long-term capabilities, and there’s good reason to be cheerful in that nook of the tech world. Oh, the cheers and applause isn’t comparable to what the iPhone brings in, mind you, but that’s partially because - let’s face it - Apple Inc. (Nasdaq: AAPL) does an excellent job at marketing itself. And as a result, Apple talks itself bigger than it actually is to a large degree.
Consumers know that they want an iPhone because they’re told it’s trendy. On the other hand, people buy Blackberries because their friends tell them it’s worth it.
Take Danae H., a self-described nerd who had nothing but good things to say about the product. Currently using the pearl, she says that she’ll most likely stick with the same updated model when it comes time to trade in next year. And she just recently advised a frustrated friend to make the switch as well.
“It’s easy to use and it gets good reception, even for AT&T.”
As for my part, after hearing positive feedback from my friends about it, I think I’m probably upgrading too.
Tuesday, August 18, 2009 - by Jeannette Di Louie
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