Research In Motion (RIM.TO) (RIMM.O) shares fell 6 percent on Thursday after the company posted quarterly results that magnified market jitters about rivals stealing market share from the BlackBerry smartphone.
RIM reported quarterly profit, revenue, and phone shipments that were below expectations after markets closed on Wednesday, but it also posted forecast-beating gross margins and subscriber growth.
The company, which has promised that analysts will be "blown away" by product launches it has planned for the year ahead, said a one-time customer inventory adjustment hurt both sales and shipments in its fourth quarter.
But questions linger about the health of RIM's North American operations and its high-profit corporate customer base. Corporate demand sagged during the recession and executives are now slower to replace phones with new models that boast extra features.
"What I see going on here is that RIM is encountering an increasingly competitive landscape in the U.S. and that's to be expected with Android starting to gain traction and the iPhone doing well," said Needham & Co analyst Charles Wolf in an interview.
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