Robust Q4 holiday sales expected, with revenue forecast to hit $3.3 billion.
Research In Motion is feeling bullish going into Christmas having forecast 4Q08 revenue of $3.3 billion to $3.5 billion, comfortably above analyst estimates compiled by Reuters.The company says sales of new handsets like the Bold and Storm are bucking the gloomy economic conditions as a result of competitive pricing and heavy operator promotion.
Analysts certainly seemed surprised. Peter Misek of Canaccord Adams said: "In order to drive sales RIM has had to lower prices, but the sales growth is phenomenal in this market. In the midst of a severe consumer recession, this is incredible."
Not such good news over at Palm, however, where quarterly revenue is down 29 per cent year-on-year at £171 million.
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