Has the BlackBerry Storm flopped for Research in Motion (RIMM)?
Has the BlackBerry Storm flopped? Research in Motion (RIMM) cut its profits and sales forecasts for the third quarter, heightening concerns that the credit crisis is hitting the lucrative smartphone market much harder than expected, although the delayed release of the BlackBerry Bold and the BlackBerry Storm could have also added to the RIMM stocks decline.
Research in Motion have blamed the far from perfect foreign exchange rates and the worsening economy for the reason why it cut both is goals for the fiscal third quarter, but with so many smartphones now on the market has the BlackBerry maker lost further chunks of the market to its rivals?
BlackBerry recently have launched the BlackBerry Storm, the flip pearl and the Bold 9000, but at the same time such as Nokia, HTC, LG and many others have released their version of the popular Apple iPhone onto the market, with all these new handset we could see the market saturated with smartphones and at a time when the economic outlook is poor both sides of the Atlantic. However RIM is not the only phone maker that have lowered forecasts only last week Nokia warned on fourth-quarter and 2009 shipment.