RIM lowers earnings

Research In Motion is reporting it will miss expectations and is lowering its earnings projections. RIM claims that the Storm and Bold are driving strong uptake with new customers but the delayed launches cost them valuable holiday momentum, coupled with slowing legacy product sales as customers waited to evaluate the new devices.

"Despite the impact of later product launch dates and general economic weakness in the United States, customer response to the new BlackBerry products launched this quarter has been exceptional and RIM has experienced particularly strong momentum in recent weeks. Daily net subscriber account additions reached a record level on the day the BlackBerry Storm launched in the United States and RIM achieved a record number of weekly net subscriber account additions during the last week of the third quarter. The strong demand for new products has continued into Q4 and RIM is working closely with its partners to deliver sufficient product to take advantage of the growth opportunity in Q4 and beyond"