Hindustan Times | April 29, 2011
Research In Motion has sharply cut its quarterly profit forecast, citing sluggish sales of BlackBerry smartphones, which are facing security concerns in India and the Middle East as well as stiff competition from other mobile phone makers. The announcement, revising its quarterly earnings forecast downward to $1.30-1.37 per share for the three months ending May 28, saw the stock tumbling over 11% in after hours trading on the Nasdaq.
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