BlackBerry Z10 drives much-needed profit

Unit sales of 1m push net income to $98m compared to year-earlier loss of $125m

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BlackBerry Z10 drives much-needed profit The BlackBerry z10 is driving much-needed sales for the Canadian smartphone maker.
By  Stephen McBride Published  March 31, 2013

BlackBerry's new Z10 handset, the first to run on its BB10 platform, yielded unexpected profit margins for the rebranded Canadian smartphone manufacturer, Reuters reported.

The company known as Research In Motion (RIM) prior to the January launch of the Z10, announced on Thursday that sales of the new handset had hit 1m amid shipments of 6m units in its corporate quarter that ended on 2 March. Net income reached $98m in the same period, compared with a $125m loss in the same period last year.

Despite beating market expectations, Blackberry shares still dropped 1.1% to $14.40 after the results were announced.

The BlackBerry 10 platform, which is a rip-and-replace release for the company, is widely seen by the industry as a means of changing the fortunes of a smartphone pioneer that has slipped into relative market obscurity in recent years.

Some analysts had predicted a rally in sales following the release of the BB10 handsets as core platform devotees - who had not made purchases because they were waiting for the delayed v10 devices - finally got their hands on fresh gadgets. However, the same analysts predicted the company would revert to lacklustre form after the first half of 2013, following the release of the touch-screen Z10 and the forthcoming Q10, which features BlackBerry's traditional tactile keyboard.

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