RIM Misses Forecast

Research In Motion has also felt the effects of the sagging economy, and has reduced its outlook for its fiscal 3rd quarter that ended last Saturday. Revenue is expected to hit somewhere between $2.75 billion and $2.78 billion, much lower than their September forecast of $2.95 billion and $3.1 billion. The shortfall is blamed on the stronger dollar (which is a good thing IMHO as that means Americans would have more purchasing power) as well as the “general economic weakness in the United States.” Strangely, they don’t see that the lack of innovation in their products being to blame, or the relative lateness of the Storm and bold to hit the market without impacting iPhone’s ever rising sales figures.