Research In Motion
We see this very large and untapped consumer market, Jim Balsillie said during a presentation to analysts and investors, adding that more than half of RIM's 25 million subscribers now fall into the non-corporate category.
Asked about whether the Storm -- which debuted to mixed media reviews last year -- has been a success, Balsillie said that product was a huge success in terms of sales and adoption.
The Storm was seen by many analysts as RIM's direct answer to Apple's
Balsillie said Storm sales continue to be strong, and added we have next-generation devices with that and the whole roadmap.
Success of individual handsets is crucial to RIM, especially as it pushes deeper into the retail markets, where consumer tastes can be fickle.
To that end, it has stacked its product line-up with consumer friendly handsets like the Storm and the BlackBerry Pearl and loaded them up with multimedia features like photo management software and music players.
At the same time, the Waterloo, Ontario-based company has been careful to remain faithful and responsive to the executives, politicians, lawyers and other professional clients who have been its mainstay.
This enterprise market -- made up mostly of large corporations and government departments -- also continues to grow, Balsillie said in his presentation.
BlackBerry coverage now extends to 475 wireless carriers and distribution partners in about 160 countries. The company grew its revenue in its last quarter by 84 percent to $3.46 billion.
Last month, RIM offered a rosy outlook that signaled further growth, despite the global economic slowdown. Analysts had previously said companies could cut their telecom budgets and consumers could tighten their purse strings amid the recession, which could spell slower sales for RIM.
This has failed to materialize as the company's results last month topped analyst expectations.
RIM's shares were up 3.2 percent at $74.62 on Nasdaq on Monday and ahead 2.6 percent at C$88.00 on the Toronto Stock Exchange.
(Reporting by Wojtek Dabrowski; editing by Frank McGurty)