RIM Profit Falls
BlackBerry maker Research in Motion Thursday reported a first quarter profit of $695 million, down from $769 million the same time last year.
"Fiscal 2012 has gotten off to a challenging start. The slowdown we saw in the first quarter is continuing into Q2, and delays in new product introductions into the very late part of August is leading to a lower than expected outlook in the second quarter." Jim Balsillie, Co-CEO at Research In Motion, said in a statement.
The company also said that it shipped 500,000 units of the PlayBook tablet in the quarter.