RIM doubles revenues to $1.88 billion

RIM has released their revenues for the fourth quarter of fiscal 2008 and finished off with a whopping $1.88 billion, up 102% from the same quarter last year!

The revenue breakdown for the quarter was approximately 81% for handhelds, 14% for service, 3% for software and 2% for other revenue. Revenue for the fiscal year ended March 1, 2008 was $6.01 billion, up 98% from $3.04 billion last year. In addition, RIM shipped 4.4 million smartphones in the fourth quarter and approximately 14 million smartphones during fiscal 2008. The new BlackBerry accounts increased approximately to 2.18 million in teh quarter. At the end of the quarter, the total BlackBerry subscriber account base was over 14 million.

“We are pleased to report another year of very strong growth with shipments of approximately 14 million BlackBerry smartphones and total revenue of $6 billion. Heightened retail activities helped drive exceptional subscriber growth during the fourth quarter with net subscriber account additions growing more than 32% over the previous quarter and well over 2 million net subscriber accounts added in a single quarter for the first time,” said Jim Balsillie, Co-CEO at Research In Motion. “Looking forward, the prospects for RIM and the industry are more exciting than ever and we will continue to work closely with a thriving ecosystem of partners to build on our momentum during the year ahead.”