Shares in Blackberry firm Research in Motion down 12%
Shares in Research in Motion (RIM) fell 12% in after-hours trading after the firm said profits this quarter will be much weaker than expected.
It blamed the cost of developing its new tablet-format Blackberry, as well as a migration of consumers towards cheaper handsets in its product range.
The share price fall came despite the Canadian firm reporting $934m (£579m) net profits for the last quarter, in line with expectations.
Profits were up 31% on a year earlier.
Caroline Hepker reports.
25 Mar 2011
- From the section US & Canada