RIM lowers quarterly forecast

Nov 23 2005 - 03:05 PM ET | Research In Motion

Research In Motion has provided an update in their prediction for subscribers for fiscal Q3 and fiscal Q4. Originally RIM had predicted that their subscriber additions would reach 680, 000 to 710, 000, but now the company believes these numbers will be 8% lower. These original numbers were based on the release of two "next-generation" BlackBerry phones. These phones are the BlackBerry 8700 Series, which runs on the EDGE network, and the BlackBerry 7130 Series for EV-DO, which have been highly anticipated and hyped by customers and press alike.

While RIM was correct about their September and October subscriber additions, launch delays of the handsets caused additions to be lower than expected in November. RIM is predicting Q3 revenue to range from $540 - $570 million.

RIM's Q3 subscriber additions report and financial results, will be announced December 21, 2005.