Research In Motion, the maker of Blackberry smartphones, said its revenues fell 25% year-on-year to 4.2 billion US dollars in the quarter ending March 3, 2012. During the quarter, RIM shipped approximately 11.1 million BlackBerry smartphones (compared with 14.9 million in the same period last year) and more than 500,000 BlackBerry PlayBook tablets.
RIM said it expects continued pressure on revenue and earnings throughout the year ending March 3, 2013. It added: "Due to a desire to focus on long term value creation and the current business environment, RIM will no longer provide specific quantitative guidance. Some of the factors contributing to this include, ongoing weakness in the company’s U.S. smartphone business, an increased focus on selling BlackBerry 7 smartphones to grow the subscriber base in advance of the BlackBerry 10 launch, increasing competitive pressure in the company’s international markets and the introduction of certain new lower tier service pricing initiatives and a higher mix of sales coming from entry level products." source: RIM statement