RIM: BlackBerry is holding its own against Apple’s iPhone

Research In Motion 1st quarter earning rose 33 percent to $1.12 a share as sales jumped some 53 percent from a year earlier reports businessweek.

The BlackBerry maker’s performance reflects a rising demand for smartphones, and shows that Research In Motion is holding its own against some smartphone rivals such as the Apple iPhone and the Palm Pre.

However RIM shares slumped initially in extended trading as the company’s projections for the current quarter didn’t meet expectations of Wall Street analysts. RIM has said they expect to sell between 8.1 million and 8.7 million devices in the quarter ending the 29th of August.

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