Research In Motion Limited
Company Profile
Publication Date: 27 Aug 2010
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Research In Motion Limited
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Research In Motion Limited
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Research In Motion Limited
TABLE OF CONTENTS
TABLE OF CONTENTS
Company Overview..............................................................................................4
Key Facts...............................................................................................................4
Business Description...........................................................................................5
History...................................................................................................................7
Key Employees...................................................................................................11
Key Employee Biographies................................................................................12
Major Products and Services............................................................................17
Revenue Analysis...............................................................................................18
SWOT Analysis...................................................................................................20
Top Competitors.................................................................................................26
Company View.....................................................................................................27
Locations and Subsidiaries...............................................................................30
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Research In Motion Limited
Company Overview
COMPANY OVERVIEW
Research In Motion (RIM) designs, manufactures and markets wireless telecom solutions for the
mobile communications market. The company provides platforms and solutions, including email,
phone, short messaging service (SMS), internet and intranet-based applications. RIM is the creator
of flagship BlackBerry branded wireless handheld/smartphone and related solutions. The company
operates in North America, Europe and Asia Pacific. It is headquartered in Ontario, Canada and
employs about 14,000 people.
The company recorded revenues of $14,953.2 million during the financial year ended February 2010
(FY2010), an increase of 35.1% over FY2009. The operating profit of the company was $3,237.9
million in FY2010, an increase of 18.9% over FY2009. Its net profit was $2,457.1 million in FY2010,
an increase of 29.8% over FY2009.
KEY FACTS
Head Office
Research In Motion Limited
295 Phillip Street
Waterloo
Ontario N2L 3W8
CAN
Phone
1 519 888 7465
Fax
1 519 888 7884
Web Address
http://www.rim.com
Revenue / turnover 14,953.2
(USD Mn)
Financial Year End
February
Employees
14,000
Toronto Ticker
RIM
NASDAQ Ticker
RIMM
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Research In Motion Limited
Business Description
BUSINESS DESCRIPTION
Research In Motion (RIM) is a leading designer, manufacturer and marketer of wireless solutions.
The company provides platforms and solutions allowing access to time-sensitive information, including
email, phone, SMS, internet and intranet-based applications. Its technology also enables a broad
array of third-party developers and manufacturers to enhance their products and services with
wireless connectivity to data. RIM’s portfolio of products, services and embedded technologies
include the BlackBerry wireless solution, and other software and hardware. The company operates
offices in North America, Europe and Asia Pacific.
The company is organized and managed as a single reportable business segment, which includes
the research, design, manufacture and sales of wireless communications products, services and
software. The segment includes primary operations related to BlackBerry wireless solution. The
BlackBerry wireless solution comprises wireless devices, software and services.
RIM generates revenue primarily from the BlackBerry wireless solution, which includes sales of
BlackBerry wireless devices, software and services. The BlackBerry wireless solution provide users
with a wireless extension of their work and personal email accounts, including Microsoft Outlook,
IBM Lotus Notes, Novell GroupWise, MSN/Hotmail, Yahoo! Mail, POP3/ISP email and others.
BlackBerry service is provided through a combination of RIM’s Network Operations Center (NOC)
and the wireless networks of RIM’s carrier partners.
The BlackBerry wireless solution also enables the use of data functions such as calendar, address
book, task and memo lists, and other functions associated with personal organizers. The BlackBerry
Mobile Data System (BlackBerry MDS) allows users to securely access data from enterprise
applications and the internet. BlackBerry Internet Service allows the integration of up to 10 supported
email accounts on a single BlackBerry smartphone. The BlackBerry Internet Service enables internet
browsing and full phone functionality on the user’s device.
The wireless devices include BlackBerry smartphones, which are communication tools that incorporate
wireless technology to deliver simple, mobile communications access. BlackBerry smartphones use
wireless, push-based technology that delivers data to mobile users’ business and consumer
applications.The company’s BlackBerry smartphones integrate email, voice calling, browser, calendar,
media player and numerous other applications. In addition, BlackBerry smartphones offer a range
of multimedia capabilities. In FY2010, the company sold approximately 36.7 million BlackBerry
devices, an increase of 41.1% over the previous year.
BlackBerry smartphones are offered in alliance with carriers and distribution channels. The devices
are designed to operate on a variety of carrier network types, including HSPA/UMTS (high-speed
packet access/ universal mobile telecommunications system), GSM/GPRS/EDGE (global system
for mobile communications/general packet radio services/enhanced data rates for global evolution),
CDMA/Ev-DO (code division multiple access/evolution-data optimized), and iDEN (integrated digital
enhanced network).
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Research In Motion Limited
Business Description
The company’s BlackBerry smartphone portfolio includes BlackBerry Bold series, BlackBerry Storm
series, BlackBerry Tour, BlackBerry Curve series, and the BlackBerry Pearl series. BlackBerry
enterprise solutions comprise BlackBerry Enterprise Server (BES), BES Express, BlackBerry Mobile
Voice System (BlackBerry MVS), and Hosted BlackBerry services.
BES is a software which acts as the centralized link between BlackBerry smartphones, enterprise
systems, business applications and wireless networks. It integrates with enterprise messaging
systems including Microsoft Exchange, IBM Lotus Domino and Novell GroupWise to wirelessly and
securely synchronize with BlackBerry smartphones to provide mobile users with secure, push-based
wireless access to email, calendar, contacts, notes and tasks. The BES also provides access to
business applications and enterprise systems behind the firewall. In addition, it provides advanced
security features and offers administrative tools that simplify management and centralize control.
BSE Express is a free server software that wirelessly and securely synchronizes BlackBerry
smartphones with Microsoft Exchange or Microsoft Windows Small Business Server. It works with
Microsoft Exchange 2010, 2007 and 2003, and Microsoft Windows Small Business Server 2008 and
2003 to provide users with secure, push-based, wireless access to email, calendar, contacts, notes
and tasks, as well as other business applications and enterprise systems behind the firewall.
The BlackBerry MVS enables organizations to converge office desk phones and BlackBerry
smartphones, allowing users to access standard enterprise voice features whether at their desks or
on the go.
Hosted BlackBerry services combine trusted BlackBerry smartphone features, functionality, and
advanced security capabilities in a package that is managed for end users.
The software division's operations include BES software licensing; client access licenses (CALs),
which are charged for each subscriber using the BlackBerry service via a BES; technical support;
and maintenance and upgrades.
The company generates revenue primarily by the BlackBerry wireless solution, which includes sales
of BlackBerry wireless devices, software and service. RIM gets hardware revenues from sales,
primarily to carriers, of BlackBerry wireless devices, which provide users with the ability to send and
receive wireless messages and data. The company generates service revenues from billings to its
BlackBerry subscriber account base primarily from a monthly infrastructure access fee to a carrier
or reseller where a carrier or other reseller bills the BlackBerry subscriber. At the end of FY2010,
the company had a BlackBerry subscriber base of over 41 million.
In addition, in 2009, the company launched BlackBerry App World, an application storefront managed
by RIM which provides an opportunity for developers to reach millions of BlackBerry users and offer
users paid and free applications to enrich the user experience of the device. At the end of FY2010,
BlackBerry App World was available in over 50 countries around the world and included over 5,000
applications from thousands of developers.
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Research In Motion Limited
History
HISTORY
Mr. Michael Lazaridis, the company's President and Co-Chief Executive Officer, and Mr. Douglas
Fregin founded Research in Motion (RIM) in 1984. The company was incorporated in 1984 in
Waterloo, Ontario under the Ontario Business Corporations Act.
In 1988, RIM became the first wireless data technology developer in North America. The company
introduced the first Mobitex mobile point-of-sale solution in 1992. Four years later, RIM introduced
the Inter@ctive Pager and the RIM OEM Radio Modem.
The company’s IPO on the Toronto Stock Exchange took place in 199. In the same year, it also
introduced the RIM Wireless PC Card. In 1998, RIM 850 and RIM 950, pager-sized handhelds, were
introduced.
The year 1999, was a significant year for the company as it introduced its flagship BlackBerry wireless
email solution, and its stock began trading on the NASDAQ Stock Exchange. In 2002, the company
launched BlackBerry 5810 with built-in phone, and T Support, a suite of technical support and
software maintenance programs. In the following year, RIM introduced new devices with color
displays. In 2004, the company launched BlackBerry in a number of new markets in alliance with
various carriers. These markets included Cayman Islands, Barbados, India, Malaysia, South Africa,
Germany, France, Belgium, Netherlands, Ireland, Portugal and Spain besides various others. In the
same year, it introduced a program that allowed other device manufacturers to incorporate BlackBerry
software. Subsequently, it introduced SureType, a combination of phone keyboard and QWERTY
keyboard in the BlackBerry 7100 series. PalmSource and RIM launched email API with first version
of the PalmSource mail client to enable development of secure mobile data applications.
In 2005, the company entered into relationships with, Yahoo! and America Online to offer Yahoo
services and AOL instant messaging on the BlackBerry platform. Subsequently, it expanded
BlackBerry networks to Hungary, Czech Republic, Poland, Russia, Romania, Switzerland, Israel,
and Latin America covering Argentina, Brazil, Chile, Colombia, Ecuador, Guatemala, El Salvador,
Nicaragua, Panama, Peru, Mexico, Uruguay and Venezuela. In 2006, the company acquired
Ascendent Systems and introduced BlackBerry Pearl smartphone.
In the following year, RIM and Eatoni Ergonomics agreed to work jointly on the next generation of
predictive text technology in ambiguous keyboards. Subsequently, Telefonica and RIM introduced
BlackBerry Unite!, a free PC-based software offering that allows small groups to stay connected,
and BlackBerry Professional Software, a wireless communications and collaboration solution for
small and medium-sized businesses. In the same year, it launched Facebook for BlackBerry
Smartphones, a new BlackBerry software application that enables fast, streamlined and optimized
mobile access to the popular Facebook social utility using a BlackBerry smartphone.
In 2008, the company launched BlackBerry smartphone models in various countries like Uganda,
Madagascar, Qatar, Romania, and others through regional and international players like MTN, QTel,
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Research In Motion Limited
History
Telma, Alcatel-Lucent, Vodafone Spain, and 3, among others. In the same year, RIM launched
BlackBerry Pearl 8110 smartphone, and launched Blackberry solutions in Lithuania, Botswana,
Madagascar, and Nigeria in association with regional players in the respective markets. Subsequently,
RIM launched BlackBerry Certification Program, which provides certification testing service in support
of the BlackBerry wireless platform.
During the same year, SAP and RIM entered into a co-innovation partnership to work on enterprise
mobility, which enables mobile access to SAP enterprise applications through BlackBerry platform.
In the same year, RIM, RBC and Thomson Reuters announced plans to launch the BlackBerry
Partners Fund, a $150 million venture capital fund, to invest in mobile applications and services for
the BlackBerry platform and other mobile platforms. Subsequently, the company added a host of
capabilities to its BlackBerry platform including Microsoft Windows Live; and IBM Lotus collaboration
software and information on demand solutions powered with Web 2.0.
In 2008, the company launched BlackBerry Bold, the first BlackBerry to support tri-band HSDPA
high-speed networks around the world and integrated GPS and Wi-Fi. Subsequently, the company
continued to add capabilities to its BlackBerry platform, by entering into an agreement with Slacker
to provide a free Slacker Personal Radio application, which will enable listeners to use radio even
when not connected to a wireless network; partnered with TiVo to provide customized TiVo services;
and RIM joined forces with MySpace to develop an integrated and customized MySpace Mobile
service. Vodafone and RIM launched BlackBerry Storm, the world's first clickable touch-screen
smartphone, in 2008.
In January 2009, RIM acquired Chalk Media, a publicly-held company based in Vancouver, British
Columbia. In the same month, the company expanded its retail distribution in India through
collaboration with Redington India to establish national retail distribution channels for BlackBerry
smartphones.
In the following month, the company settled its historical stock option granting practices review
commenced in 2006 with the Ontario Securities Commission, Canada, and the Securities and
Exchange Commission, the US.
The company acquired Certicom, a provider of software and hardware solutions for protecting content,
applications and devices, in March 2009. In the following month, RIM launched BlackBerry App
World, an on-device store of application for BlackBerry smartphones.
In May 2009, the company launched BlackBerry Enterprise Server 5.0, its next generation secure,
push-based server software for business mobility that supports advanced IT administration features
and smartphone controls. Subsequently, RIM extended its push technology to consumer market by
launching BlackBerry push API (application programming interface) that enables developers to make
push real-time content to BlackBerry smartphones. In the same month, HP and RIM established a
strategic alliance to deliver a portfolio of solutions for business mobility on the BlackBerry platform.
Subsequently, SAP and RIM introduced integrated solution that provides customers with anytime,
anywhere access to the SAP Customer Relationship Management application on BlackBerry
smartphones.
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Research In Motion Limited
History
In July 2009, RIM and Visto entered into a definitive agreement to settle all outstanding litigation
between the companies. Subsequently, RIM disclosed that it was prevented from submitting an offer
for the Nortel Networks Wireless Business that was the subject of a bankruptcy auction scheduled
on July 24, 2009. Subsequently, the company launched the new BlackBerry Curve 8520 smartphone,
a new addition to the BlackBerry Curve series of smartphones.
In the following month, the company introduced a new model of the BlackBerry Smart Card Reader,
which enables proximity controlled access to a user's BlackBerry smartphone and computer.
In October 2009, Adobe and RIM collaborated to bring Adobe Flash Player support to the BlackBerry
platform. In the same month, RIM introduced the BlackBerry Widget Software Development Kit
(SDK) to enable third-party application developers to build rich, integrated applications for BlackBerry
smartphones using common web technologies. Subsequently, the company launched the New
BlackBerry Bold 9700 smartphone.
RIM and Adobe expanded their collaboration and announced that creative professionals and
application developers will be able to use the Adobe Flash Platform technology and Adobe Creative
Suite content development and authoring tools to create content and application experiences for
BlackBerry smartphones in November 2009. In the following month, the company signed a distribution
agreement with Digital China Holdings for BlackBerry smartphones in China. In December 2009,
China Mobile and RIM announced plans to support TD-SCDMA and TD-LTE technologies on the
BlackBerry smartphone platform. Both companies also planed to launch BlackBerry Internet Service
and BlackBerry smartphones for small to medium-sized businesses (SMBs) and professional
consumers.
In January 2010, Chalk Media Service, a subsidiary of RIM, introduced Chalk Pushcast Software
5.4, which facilitates a trackable and secure communication channel for delivering audio- and
video-rich content to BlackBerry smartphones. In the same month, RIM launched the new BlackBerry
Client for IBM Lotus Quickr, enabling secure mobile access to IBM's document-based collaboration
software from BlackBerry smartphones. The company also unveiled a new version of the BlackBerry
Client for IBM Lotus Connections for enterprise social networking.
RIM introduced BlackBerry Enterprise Server Express, a free server software that wirelessly and
securely synchronizes BlackBerry smartphones with Microsoft Exchange or Microsoft Windows
Small Business Server, in February 2010. In April 2010, the company signed an agreement to acquire
QNX Software Systems from Harman International. Subsequently, the company launched BlackBerry
Pearl 3G smartphone. Also, in the same month, RIM introduced BlackBerry Mobile Voice System 5
(BlackBerry MVS 5) with voice over Wi-Fi calling capabilities. This version enables employees to
make or receive enterprise phone calls through Cisco Unified Communications Manager from their
BlackBerry smartphones over Wi-Fi at work, hotspots and home.
In May 2010, China Telecom and RIM launched the BlackBerry solution for China Telecom enterprise
customers in China. In the following month, RIM and Motorola entered into a Settlement and License
Agreement which ends all outstanding worldwide litigation between the two companies. Subsequently,
Yonhap News Agency made available its Yonhap News application for BlackBerry smartphones in
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Research In Motion Limited
History
South Korea. Also, in the same month, eBay and RIM extended eBay Application for BlackBerry
smartphones in six more countries, including Australia, France, Germany, Italy, Spain and the UK.
RIM introduced BlackBerry 6, a new operating system for BlackBerry smartphones, in August 2010.
In the same month, the company along with AT&T launched BlackBerry Torch 9800 smartphone
with BlackBerry 6 operating system. Subsequently, RIM introduced BlackBerry Curve 3G, an addition
to its BlackBerry Curve series of smartphones. Also, in the same month, the company launched
BlackBerry Podcasts, a free application and service that allows BlackBerry smartphone users to
access podcasts from leading content providers.
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Research In Motion Limited
Key Employees
KEY EMPLOYEES
Name
Job Title
Board
Michael Lazaridis
President and Co-Chief Executive
Officer
Executive Board
4578001 CAD
James L. Balsillie
Co-Chief Executive Officer
Executive Board
4578001 CAD
John E. Richardson
Lead Director
Non Executive Board
190000 CAD
James Estill
Director
Non Executive Board
150000 CAD
David Kerr
Director
Non Executive Board
150000 CAD
Roger Martin
Director
Non Executive Board
150000 CAD
Barbara Stymiest
Director
Non Executive Board
175000 CAD
Antonio Viana-Baptista
Director
Non Executive Board
212500 CAD
John Wetmore
Director
Non Executive Board
165000 CAD
Don Morrison
Chief Operating Officer, BlackBerry Senior Management
3347376 CAD
Robin Bienfait
Chief Information Officer
Senior Management
1276382 CAD
Brian Bidulka
Chief Financial Officer
Senior Management
1114055 CAD
David Yach
Chief Technology Officer, Software
Senior Management
4740679 CAD
Jim Rowan
Chief Operating Officer, Global
Manufacturing and Supply Chain
Senior Management
Keith Pardy
Chief Marketing Officer
Senior Management
Thorsten Heins
Chief Operating Officer, Product
Engineering
Senior Management
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Compensation
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Research In Motion Limited
Key Employee Biographies
KEY EMPLOYEE BIOGRAPHIES
Michael Lazaridis
Board: Executive Board
Job Title: President and Co-Chief Executive Officer
Age: 49
Mr. Lazaridis is the President and Co-CEO at RIM. He has been a Director at the company since
1984. Mr. Lazaridis founded the company while he was a student at the University of Waterloo, from
which received honorary Doctor of Engineering degree. He is an Officer of the Order of Canada. Mr.
Lazaridis has founded two research institutions, the Perimeter Institute for Theoretical Physics and
the Institute for Quantum Computing at the University of Waterloo.
James L. Balsillie
Board: Executive Board
Job Title: Co-Chief Executive Officer
Since: 1992
Age: 49
Mr. Balsillie has been the Co-Chief Executive Officer at RIM since 1992. He served as the company’s
Director from 1993 to February 2009 and was reappointed as a Director in May 2010. Prior to joining
and investing in the company in 1992, Mr. Balsillie was the Executive Vice President and a Member
of the Board of Directors at Sutherland-Shultz in Kitchener, Ontario. In 2002, he founded the Centre
for International Governance Innovation (CIGI), a research institute focused on the restructuring of
international governance practices, with a particular emphasis on financial and economic institutions.
Mr. Balsillie is also the Chairman at Canadian International Council.
John E. Richardson
Board: Non Executive Board
Job Title: Lead Director
Since: 2007
Age: 77
Mr. Richardson has been a Lead Director at RIM since 2007. He also has been a Director at the
company since 2003. Mr. Richardson was the Chairman at Ontario Pension Board from 2004 to
2007. He was previously a Senior Partner at Clarkson Gordon; Executive Vice President at Lonvest
(now London Insurance Group); President at Great Lakes Power; Deputy Chairman at London
Insurance Groups; Chairman, President and CEO at Wellington Insurance; and Chairman at London
Guarantee Insurance. Mr. Richardson was a past Board Member with The Insurance Bureau of
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Research In Motion Limited
Key Employee Biographies
Canada and the Facility Association. He is also the Chairman at Boiler Inspection and Insurance
and a Trustee at Armtec Infrastructure Income Fund.
James Estill
Board: Non Executive Board
Job Title: Director
Since: 1997
Age: 53
Mr. Estill has been a Director at RIM since 1997. During 2009, he was the President and CEO at
Nu Horizons Electronics. From 2004 to 2009, Mr. Estill was the CEO at SYNNEX Canada. Previously,
he was the founder, President and CEO at EMJ Data Systems, which was acquired by SYNNEX in
2004.
David Kerr
Board: Non Executive Board
Job Title: Director
Since: 2007
Age: 66
Mr. Kerr has been a Director at RIM since 2007. He is the Managing Partner at Edper Financial, an
investment holding company. From 2002 to 2006, Mr. Kerr was the Chairman at Falconbridge
(formerly Noranda) and prior to that he was the President and CEO at Falconbridge. He also serves
as a Director at Sustainable Developments Technology Canada, the Toronto Rehabilitation Hospital
Foundation, the Special Olympics Canada Foundation and is involved with the Schulich School of
Business, York University.
Roger Martin
Board: Non Executive Board
Job Title: Director
Since: 2007
Age: 53
Mr. Martin has been a Director at RIM since 2007. He is the Dean and Professor of Strategy at the
Joseph L. Rotman School of Management at the University of Toronto. Mr. Martin was formerly a
Director at Monitor, a Cambridge, Massachusetts-based consulting firm. He also serves as the
Chairman at Ontario Task Force on Competitiveness, Productivity and Economic Progress; a Director
on the Board at Skoll Foundation; Vice Chairman at Tennis Canada; a Trustee at The Hospital for
Sick Children; and Director at AIC Institute for Corporate Citizenship.
Barbara Stymiest
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Research In Motion Limited
Key Employee Biographies
Board: Non Executive Board
Job Title: Director
Since: 2007
Age: 53
Ms. Stymiest has been a Director at RIM since 2007. She joined Royal Bank of Canada in 2004 and
serves as the Group Head, Strategy, Treasury and Corporate Services. Prior to that role, Ms. Stymiest
was the CEO at TSX Group, Executive Vice-President and Chief Financial Officer at BMO Nesbitt
Burns, and Partner at Ernst & Young. She is also the Chairman and a Director at Symcor, Toronto
Rehabilitation Institute Foundation, the Canadian Institute for Advanced Research and the Royal
Ontario Museum. Ms. Stymiest has also served on a number of professional and charitable
organizations, including the Canadian Institute for Chartered Accountant’s Accounting Oversight
Committee, United Way Campaign Cabinet and Hincks-Dellcrest Children’s Centre.
Antonio Viana-Baptista
Board: Non Executive Board
Job Title: Director
Since: 2009
Age: 52
Mr. Viana-Baptista has been a Director at RIM since 2009. Prior to his retirement in 2008, he held
various executive roles at Telefonica including as the General Manager and CEO, Telefonica Spain;
and Chairman and CEO, Telefonica Moviles and Telefonica International. Prior to joining Telefonica,
Mr. Viana-Baptista held positions with Banco Portugues de Investimento as the Executive Director
and with McKinsey as the Principal Director, Madrid, Spain and Lisbon.
John Wetmore
Board: Non Executive Board
Job Title: Director
Since: 2007
Age: 60
Mr. Wetmore has been a Director at RIM since 2007. He is the former President and CEO and also
the former Chief Financial Officer at IBM Canada. Mr. Wetmore also held various finance positions
at IBM Americas. He has previously served as a Director at Sunnybrook Hospital Foundation, a
Member at University of Waterloo Board of Governors and a Member at United Way of Greater
Toronto Campaign Cabinet.
Don Morrison
Board: Senior Management
Job Title: Chief Operating Officer, BlackBerry
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Research In Motion Limited
Key Employee Biographies
Mr. Morrison is the Chief Operating Officer of BlackBerry at RIM. Before joining the company in
2000, he undertook a number of senior leadership positions in Canada, the US, Europe and the
Middle East with AT&T and Bell Canada.
Robin Bienfait
Board: Senior Management
Job Title: Chief Information Officer
Ms. Bienfait is the Chief Information Officer at RIM. She oversees BlackBerry Operations and
Corporate IT at the company. Prior to joining RIM, Ms. Bienfait held senior leadership positions within
AT&T Labs and Global Network Services.
Brian Bidulka
Board: Senior Management
Job Title: Chief Financial Officer
Mr. Bidulka is the Chief Financial Officer at RIM. Prior to joining the company in 2005, he held
numerous finance positions at Molson and Ernst & Young.
David Yach
Board: Senior Management
Job Title: Chief Technology Officer, Software
Mr. Yach is the Chief Technology Officer, Software at RIM. He oversees and manages the
development of software at the company. Prior to joining RIM in 1998, Mr. Yach held various
leadership positions at Sybase.
Jim Rowan
Board: Senior Management
Job Title: Chief Operating Officer, Global Manufacturing and Supply Chain
Mr. Rowan is the Chief Operating Officer, Global Manufacturing and Supply Chain at RIM. Prior to
joining the company, he was the Executive Vice President of World Wide Operations at Celestica.
Keith Pardy
Board: Senior Management
Job Title: Chief Marketing Officer
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Research In Motion Limited
Key Employee Biographies
Mr. Pardy is the Chief Marketing Officer at RIM. Prior to joining the company, he worked for 17 years
at The Coca-Cola in various marketing and business development positions in Canada, the US,
Russia, Sweden, Spain and the UK. Mr. Pardy also held an executive marketing role with Nokia.
Thorsten Heins
Board: Senior Management
Job Title: Chief Operating Officer, Product Engineering
Mr. Heins is the Chief Operating Officer, Product Engineering at RIM. Prior to joining the company
in 2007, he held several positions in the wireless arena including the Chief Technology Officer at
Siemens’ Communications division and several general management positions in hardware and
software businesses.
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Research In Motion Limited
Major Products and Services
MAJOR PRODUCTS AND SERVICES
Research In Motion (RIM) designs, manufactures and markets wireless telecom solutions for the
mobile communications market. The company's key products and services include the following:
Wireless handheld communication devices
Convergent devices/Smartphones
Application software
BlackBerry wireless platform
Software development tools
Brands:
BlackBerry
SureType keyboard technology
SurePress touch screen technology
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Research In Motion Limited
Revenue Analysis
REVENUE ANALYSIS
Research In Motion
The company recorded revenues of $14,953.2 million during the financial year ended February 2010
(FY2010), an increase of 35.1% over FY2009. In FY2010, the US, the company's largest geographic
market, accounted for 57.6% of the total revenues.
RIM is organized and managed as a single reportable business segment, is which engaged in the
research, design, manufacture and sales of wireless communications products, services and software.
However, it reports operations by different geographic regions, and products and services categories.
RIM generates revenues through four products and services categories: devices (81% of the total
revenues in FY2010), service (14.4%), software (1.7%) and other (2.8%).
Revenues by products and services categories
In FY2010, the devices category recorded revenues of $12,115.8 million, an increase of 33.3% over
FY2009.
The service category recorded revenues of $2,158.6 million in FY2010, an increase of 53.9% over
FY2009.
The software division recorded revenues of $258.6 million in FY2010, an increase of 2.7% over
FY2009.
The other division recorded revenues of $420.2 million in FY2010, an increase of 30.9% over FY2009.
*Note: Total divisional percentage rounded off
Revenues by Geography
The US, RIM's largest geographical market, accounted for 57.6% of the total revenues in FY2010.
Revenues from the US reached $8,619.8 million in FY2010, an increase of 23.7% over FY2009.
The UK accounted for 9.7% of the total revenues in FY2010. Revenues from the UK reached $1,447.4
million in FY2010, compared to revenues of $711.5 million in FY2009.
Canada accounted for 5.6% of the total revenues in FY2010. Revenues from Canada reached $843.8
million in FY2010, a decrease of 4.9% over FY2009.
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Research In Motion Limited
Revenue Analysis
Other accounted for 27% of the total revenues in FY2010. Revenues from other reached $4042.3
million in FY2010, an increase of 61.8% over FY2009.
**Note: Total geographical revenues and percentage rounded off
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Research In Motion Limited
SWOT Analysis
SWOT ANALYSIS
Research In Motion (RIM) designs, manufactures and markets wireless telecom solutions for the
mobile communications market. The company provides platforms and solutions, including email,
phone, short messaging service (SMS), internet and intranet-based applications. RIM is the creator
of flagship BlackBerry branded wireless handheld/smartphone and related solutions.The company's
strong brand image provides a competitive advantage as well as enhances its ability to penetrate
new markets. However, increasing competition may affect the company's revenue growth and
profitability in coming years.
Strengths
Weaknesses
Strong brand image
Comprehensive offerings
Robust financials
Customer concentration
Opportunities
Threats
Growing smartphone market
Strategic acquisitions
Expanding portfolio of offerings
Increasing competition
Legal proceedings
Security concerns
Network disruptions
Strengths
Strong brand image
RIM enjoys strong recognition for its BlackBerry brand. The company's BlackBerry brand has a
significant recognition in the enterprise communications market as it is known to be synonymous
for mobile email. At the same time, it continues to make strides into the consumer electronics markets.
At end of FY2010, the BlackBerry subscriber account base was over 41 million with approximately
17 million net new subscriber accounts added and over a third of its customers residing outside
North America.
In addition, the company has significant brand recognition. It was ranked 63 on the list of Interbrand’s
top 100 best global brands 2009 rankings, compared to rank of 73 in 2008. RIM’s brand was valued
at $5,318 million in 2009, an increase of 7% over the previous year. It was also ranked 14 on the
list of BrandZ Top 100 Most Powerful Brands Ranking 2010 published by Millward Brown Optimor
with a brand value of $30,708 million, an increase of 12% over 2009.
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SWOT Analysis
Furthermore, the company is continuing to increase its presence in the consumer market by
introducing various applications and services for consumers, such as social networking and multimedia
credentials, while strengthening its presence in the enterprise communications market.The company's
strong brand image provides a competitive advantage as well as enhances its ability to penetrate
new markets.
Comprehensive offerings
The company has comprehensive offerings as part of its BlackBerry solutions portfolio. The company
offers BlackBerry branded smartphones, and related solution and services to enterprise and consumer
markets. The BlackBerry smartphones incorporate wireless technology to deliver simple, mobile
communications access to time-sensitive information including email, phone, SMS messaging,
internet and intranet-based applications. BlackBerry smartphones operate on all major carrier network
types, including HSPA/UMTS, GSM/GPRS/EDGE, CDMA/Ev-DO, and iDEN.
The company's offerings are backed by strong research and development (R&D) capabilities. Its
R&D capabilities include R&D expenditure of approximately 6.5% of total revenues in FY2010 and
over 5,600 R&D employees engaged in areas including advanced research, product development,
standards and licensing. RIM's R&D also allowed it to launch a record number of new BlackBerry
smartphones that incorporated the latest chipset technologies, next generation network support,
new high resolution displays, new and innovative input technologies and completely new user
interfaces. The company launched various new products including BlackBerry Bold smartphone
(RIM's first HSDPA smartphone), the BlackBerry Storm smartphone (RIM's first touch-screen
smartphone with SurePress technology), the BlackBerry Pearl Flip smartphone (RIM's first 'clam-shell'
smartphone), the iDen-based BlackBerry Curve 8350i smartphone (with Push-to-Talk), the BlackBerry
Curve 8900 smartphone (based on a next generation platform), and BlackBerry Tour (3G capable
mobile with multimedia, GPS and a 3.2 megapixel camera).
In addition, in FY2010, the company launched a number of new devices, including the BlackBerry
Bold 9700, BlackBerry Storm2 9520 and 9550, BlackBerry Tour, and the BlackBerry Curve 8520
and 8530. The company's consistent product launches allowed it to gain revenue and market share.
Its market share in the smartphones market segment reached to approximately 20% in 2009,
compared to 16% in 2008.
Furthermore, the company strengthened its BlackBerry platform through enhanced integration of
value added services such as BlackBerry Mobile Voice System, which mobilizes private branch
exchange (PBX) systems and brings office phone features to BlackBerry smartphones; Chalk
Pushcast Software for corporate podcasting and enterprise social networking and collaboration tools.
Further, in FY2010, the company’s BlackBerry Enterprise Server version 5.0 received the Global
Mobile Award for the ‘Best Mobile Enterprise Product or Service’ at GSMA’s Mobile World Congress
and it was also the first mobile platform to receive the Common Criteria EAL4+ Security Certification.
The company's comprehensive offerings provide competitive advantage by creating entry barriers,
as well as allowed it to record strong revenue and market share growth.
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Research In Motion Limited
SWOT Analysis
Robust financials
RIM has been reporting robust financials in recent years. During the period 2008-10, its revenues
grew at a compounded annual rate (CAGR) of 36% to reach a value of $14,953.2 million. In FY2010,
the company's revenues grew by 35.1% over FY2009. The company’s operating profit and net profit
increased at a CAGR of 23% and 24%, respectively, during the period 2008–10.
The company's strong operating performance translated into healthy balance sheet with strong cash
and cash equivalents, short-term investments, no debt burden and strong equity position. At the end
of FY2010, its cash and cash equivalents and short-term investments stood at $1,911.5 million,
compared to $1,518.2 million at the end of FY2009. It had no debt burden for the past two years
and its shareholders' equity stood at $7,602.7 million at the end of FY2010, compared to $5,874.1
million at the end of FY2009.
Robust financials enhance the company's investors' confidence as well as allowed it to invest in own
shares (buyback) and potential growth avenues such as new products and solutions.
Weaknesses
Customer concentration
The company depends on few customers for a significant portion of its revenues and receivables.
Although, the company sells its products and services to variety of customers, three customers
accounted for 20%, 13% and 10% of its total revenues, respectively, in FY2010, compared to 23%,
14% and 10% of its total revenues, respectively, in FY2009. Additionally, one customer accounted
for 14% of its accounts receivables in FY2010, compared to one customer accounting for 29% in
2009.
Moreover, RIM’s business model makes it depend on carriers to launch the BlackBerry service, as
its services should be supported by them. Revenue from network carriers represented approximately
97% of the company’s total revenue in FY2010, compared to approximately 96.5% in FY2009.
Furthermore, there is also a possibility that there can be change in preferences by carrier partners
which may weaken its competitive position.
Although, the company is trying to mitigate this problem by opening Blackberry stores and offering
phones through stores such as Wall-Mart, it continues to depend on carrier parts for significant
portion of its business. Dependence of few customers will affect the competitive position of the
company as well as decreases its bargaining power.
Opportunities
Growing smartphone market
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Research In Motion Limited
SWOT Analysis
The global smartphone market is expected to continue its strong growth in the coming years.
According to the industry sources, the smartphone market is forecast to grow at a compounded
annual rate (CAGR) of 32% between 2010 and 2014. More than 50% of this growth in handsets is
forecast to come from the developing markets of Asia-Pacific, including China and India, and Central
and Latin American states. Also, the smartphones are expected to represent 26% of all handsets in
2014, compared to 14% in 2009.
RIM is one of the leading suppliers of smartphones and associated platforms and applications in
the world. Growing demand for smartphones provides a base for the company's revenue and profit
growth in coming years.
Strategic acquisitions
RIM has completed several strategic acquisitions in recent times, strengthening its offerings. In 2009,
the company acquired Certicom, a provider of software and hardware solutions for protecting content,
applications and devices. In April 2010, the company signed an agreement to acquire QNX Software
Systems from Harman International. The company’s QNX Neutrino open platform operating system
is deployed across multiple business sectors including automotive, industrial, telecommunications,
medical, defense, and aerospace. RIM plans to expand the opportunities for QNX in the automotive
sector and other markets and also to support its certain future product plans for intelligent peripherals.
Such strategic acquisitions will further enhance the company’s product portfolio and increases its
customer base.
Expanding portfolio of offerings
The company has been adding various services to its portfolio in recent times. For instance, in
October 2009, Adobe and RIM collaborated to bring Adobe Flash Player support to the BlackBerry
platform. Furthermore, RIM and Adobe expanded their collaboration and announced that creative
professionals and application developers will be able to use the Adobe Flash Platform technology
and Adobe Creative Suite content development and authoring tools to create content and application
experiences for BlackBerry smartphones in November 2009.
In January 2010, Chalk Media Service, a subsidiary of RIM, introduced Chalk Pushcast Software
5.4, which facilitates a trackable and secure communication channel for delivering audio- and
video-rich content to BlackBerry smartphones. The company introduced BlackBerry Enterprise
Server Express, a free server software that wirelessly and securely synchronizes BlackBerry
smartphones with Microsoft Exchange or Microsoft Windows Small Business Server, in February
2010. In June 2010, Yonhap News Agency made available its Yonhap News application for BlackBerry
smartphones in South Korea. In the same month, eBay and RIM extended eBay Application for
BlackBerry smartphones in six more countries, including Australia, France, Germany, Italy, Spain
and the UK. The company launched BlackBerry Podcasts, a free application and service that allows
BlackBerry smartphone users to access podcasts from leading content providers, in August 2010.
In the same month, RIM launched a new Java software development kit (SDK) to support BlackBerry
6. BlackBerry Java SDK v6.0 offers deeper integration with BlackBerry smartphones, access to new
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Research In Motion Limited
SWOT Analysis
and enhanced services and support for rendering and porting content to the new webkit-based
browser.
The company's expanding portfolio of offerings on the BlackBerry solutions, increases demand for
its solutions from both enterprise and consumer customers as they find higher utility in its solutions.
Threats
Increasing competition
The competition in the mobile solutions market has been increasing significantly in recent times.
Moreover, the competition in the smartphones segment is further intense as it is forecast to offer
significant growth opportunities in coming years. RIM is facing intense competition particularly from
Apple, Nokia, HTC, and Samsung which have been aggressively launching products to increase
their market share in the smartphones segment. Additionally, HP entered the smartphone market
through its acquisition of Palm in July 2010.
In addition, its competitors are also actively pursuing opportunities to introduce solutions that compete
with its flagship email solution. For instance, in May 2010, 2009, Nokia and Microsoft jointly launched
Microsoft Office Communicator Mobile, a component that shows smartphone users the availability
of workplace colleagues and offers communications with them via e-mail, instant messaging or voice.
Also, RIM may face competition from companies focused on providing middleware to facilitate
end-to-end wireless messaging solutions, such as IBM, Microsoft, Notify Technology, Openwave
Systems, and Seven Networks, among others.
Increasing competition may affect the company's revenue growth and profitability in coming years.
Legal proceedings
RIM is involved in various legal issues. Recently, RIM and Motorola entered into a Settlement and
License Agreement which ends all outstanding worldwide litigation between the two companies. It
also settled all outstanding litigation with Visto in July 2009. As part of the settlement, RIM paid
$267.5 million to gain access to perpetual and fully-paid license of certain Visto intellectual property.
Although, the company settled various legal issues in recent times, it continues to face legal issues
related to infringement of patents. The company is facing one from Minerva Industries, which filed
two complaints in 2007 and 2008 against RIM alleging that infringement of its patent. In December
2008, MSTG filed a patent infringement lawsuit against the company. In March 2010, the PACid
Group filed a lawsuit against RIM and 30 other defendants alleging infringement of patents.
The company's constant involvement in legal issues affects its brand value and makes it incur various
expenses for legal proceedings and settlements. Further, adverse results of these issues will
significantly affect the company's operations.
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Research In Motion Limited
SWOT Analysis
Security concerns
The company’s BlackBerry messaging service is facing security concerns in various countries.
Regulators in countries, including Saudi Arabia, the UAE, and India are planning to restrict or ban
the company’s messaging services due its security feature which does not allow regulator monitoring.
RIM’s server is based in Canada and any message going through a Canada server is encrypted
which cannot be accessed by government agencies where the company has operations. This
encryption code first scrambles the emails sent from a BlackBerry device and unscrambles them
when the message reaches its target. Many countries view that terrorists and other anti-social
elements can misuse this service and threaten their national security.
For instance, the UAE's telecom regulator announced plans to ban BlackBerry e-mail, messaging
and web browsing services. In addition, the company is engaged in talks with government of India
to allay their security concerns over BlackBerry Enterprise email and messenger services. Also,
more countries such as Indonesia, Kuwait and Egypt are planning a ban against BlackBerry services.
The company’s failure to find a solution for its BlackBerry messaging service compliance with
respective regulatory authorities may negatively affect its subscriber base.
Network disruptions
RIM offers BlackBerry service through a combination of its network applications and the wireless
networks of the company’s carrier partners. The company’s operations rely to a significant degree
on the efficient and uninterrupted operation of complex technology systems and networks, which
are in some cases integrated with those of third parties. RIM’s networks and technology systems
are potentially vulnerable to damage or interruption from a variety of sources, physical or logical or
computer systems failure, or other events. There may also be system or network interruptions if new
or upgraded systems are defective or not installed properly.
Further, the increasing subscriber base of the company, results in additional strain on the technology
systems and networks. This increases the relative risk of a network disruption or other business
interruption. In the past, RIM has experienced network disruptions. Interruption of services will
adversely affect the company’s business and brand image.
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Research In Motion Limited
Top Competitors
TOP COMPETITORS
The following companies are the major competitors of Research In Motion Limited
Motorola, Inc.
Nokia Corporation
Samsung Electronics Co., Ltd.
Apple Inc.
Sony Ericsson Mobile Communications AB
HTC Corporation
Hewlett-Packard Company
LG Electronics, Inc.
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Research In Motion Limited
Company View
COMPANY VIEW
A statement by Michael Lazaridis, President and Co-Chief Executive Officer; and James L. Balsillie,
Co-Chief Executive Officer at Research In Motion is given below. The statement has been taken
from the company's 2010 annual report.
Fiscal 2010 was another successful year for Research In Motion with strong financial results and
record shipments of 37 million BlackBerry smartphones. RIM was able to successfully expand its
global market share while continuing to achieve strong sales in North America. This exceptional
performance was fueled by a broad portfolio of compelling products and services and solid business
execution by RIM’s employees and partners.
Against the backdrop of a challenging global economy, RIM grew revenue 35% to $15 billion and
GAAP net income 30% to $2.5 billion in fiscal 2010. At the end of the year, the BlackBerry subscriber
account base was over 41 million with approximately 17 million net new subscriber accounts added
and over a third of our customers residing outside North America. There are now approximately 550
carriers and distribution partners offering BlackBerry products and services in 175 countries around
the world. RIM continues to expand the reach of the BlackBerry platform in new market segments
while maintaining its leadership position in the enterprise market.
In fiscal 2010, over 35% of total revenues came from outside North America. RIM’s international
presence grew significantly during the year, with robust growth in Latin America, Asia Pacific, the
Middle East and Western Europe. Smartphones such as the BlackBerry Curve 8520 and the
BlackBerry Bold 9700, as well as popular applications that leverage the BlackBerry platform such
as push email and BlackBerry Messenger (BBM), have been instrumental in driving RIM’s international
growth. BBM use increased five-fold during fiscal 2010 and we believe this growth is a strong indicator
of the potential for key applications to drive even greater adoption and loyalty to the BlackBerry
platform in the coming year.
The value of the BlackBerry brand also increased substantially during fiscal 2010. Last year we were
pleased to have been included on the Millward Brown Top 100 Most Powerful Brands list. This year
our focused business efforts, including integrated marketing programs and new advertising campaigns,
helped move the BlackBerry brand from 51st to 16th on the list. We continue to invest in the
BlackBerry brand in order to grow consumer interest and purchase intent both internationally and
in North America.
Research and development efforts in fiscal 2010 remained focused on developing world class
products and services that deliver a unique mobile experience for our customers. During the past
year we launched several new BlackBerry smartphones with enhanced functionality, features,
performance and designs, including the BlackBerry Tour 9630, BlackBerry Curve 8520/ 8530,
BlackBerry Storm2 9520/9550 and BlackBerry Bold 9700.
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Research In Motion Limited
Company View
Early in fiscal 2010, RIM launched BlackBerry App World and we are pleased to report that the
developer community is thriving. RIM continues to provide developers with robust tools, technologies
and business services to assist them in creating and marketing even more powerful and useful
applications. Related initiatives in 2010 included the second annual BlackBerry Developer Conference,
the introduction of the BlackBerry Academic Program and a variety of new development tools, such
as BlackBerry Theme Studio, BlackBerry Widgets, and new payment and advertising tools and
services to help developers monetize their applications. RIM also previewed a new WebKit-based
browser that is expected to launch in fiscal 2011.
The BlackBerry platform remains the corporate standard for enterprise mobility. In recognition of its
leadership in the enterprise market in fiscal 2010, BlackBerry Enterprise Server version 5.0 received
the Global Mobile Award for the “Best Mobile Enterprise Product or Service” at GSMA’s Mobile World
Congress and was also the first mobile platform to receive the Common Criteria EAL4+ Security
Certification. We are committed to maintaining our leadership in this market and continue to strengthen
the BlackBerry platform through enhanced integration of value added services such as BlackBerry
Mobile Voice System (mobilizes PBX systems and brings office phone features to BlackBerry
smartphones), Chalk Pushcast Software (for corporate podcasting) and enterprise social networking
and collaboration tools. We also recently launched BlackBerry Enterprise Server Express to further
extend our market opportunity by providing companies of all sizes with a cost-effective solution that
supports mobile connectivity for employees without compromising security or manageability.
RIM is a pioneer in the wireless data industry and the BlackBerry solution was purposefully designed
to deliver a true “push” based user experience while also offering advanced security, manageability,
spectral efficiency and power management. RIM’s BlackBerry Infrastructure is a key component in
the unique BlackBerry value proposition and continues to be an important source of our competitive
advantage. RIM’s proactive and ongoing investment in infrastructure has enabled us to continue to
provide the industry-leading functionality, efficiency, security, scalability and quality of service
necessary to continue meeting the growing needs of our customers and partners.
RIM’s global manufacturing and supply chain teams have responded to the growing demand for
BlackBerry smartphones by expanding their capabilities while continuing to focus on meeting customer
expectations. In addition to strategic investments in our Waterloo manufacturing facility, we have
also grown manufacturing capacity through the engagement of new outsourcing partners and the
addition of production capabilities in key locations around the world. These new facilities complement
our existing network of manufacturing partners and meet RIM’s quality, cost, flexibility and delivery
expectations. We continue to invest in the integration of our global supply chain by developing
relationships with key suppliers to support future product requirements and achieve greater forecast
accuracy through improved demand management. In support of this supply chain integration and
growth, RIM is investing in a leading edge IT systems infrastructure and global information
management system, driving a world class supply chain engine to achieve the highest possible
levels of customer satisfaction. With continued global supply chain investment and the addition of
flexible production capacity, RIM is well positioned to meet the requirements of our global carrier
partners and will continue to focus on improving these capabilities to meet and exceed our partner
expectations for on time delivery of high quality products for their customers.
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Research In Motion Limited
Company View
Providing exceptional support for the growing number of BlackBerry subscribers is an important
competitive advantage for RIM and its partners. Our customer support efforts in fiscal 2010 continued
to focus on scalability, ease-of use, efficiency and cost effectiveness. In addition, we continue to
build and strengthen RIM’s corporate structure, including our capabilities in finance, operations,
administration and facilities to meet current and future growth. RIM had approximately 14,000
employees at the end of fiscal 2010. We continue to seek the best talent across all areas of the
Company, including R&D, carrier support, business development, marketing, customer care and
manufacturing. We also continue to recruit co-op students and new graduates from top universities
and colleges to ensure that we have the best new talent to enable us to continue to grow and innovate.
We are proud of RIM’s accomplishments in fiscal 2010 and would like to thank our employees around
the world whose abilities, hard work and determination enabled RIM to once again execute effectively
and deliver solid results. We would also like to communicate sincere appreciation to our customers,
partners, suppliers and shareholders for their support throughout the year.
We believe that RIM is well positioned to take advantage of the exciting opportunities that lie ahead
in fiscal 2011. Some of our goals for the coming year include:
Continue to enhance the user experience by launching a new Webkit-based browser and new user
interface for BlackBerry smartphones, and by growing the number of applications and services
available for the BlackBerry platform;
Launch several new BlackBerry smartphones and other products and services to drive growth in
both new and existing geographies and market segments;
Build on the strong international growth achieved over the past year by launching tiered pricing and
targeted products and services within new market segments and geographies;
Continue to increase the value of the BlackBerry brand through integrated marketing efforts;
Expand our leadership in the business market by leveraging value-added services, including Chalk
Pushcasts and BlackBerry Mobile Voice System, while also aggressively targeting small and medium
sized business with BlackBerry Enterprise Server Express;
Aggressively grow the BlackBerry subscriber account base and deliver solid financial performance
and profitability for our shareholders; and
Attract, hire and retain the best available talent to support RIM’s customers and partners and to
maintain RIM’s market leading position.
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Research In Motion Limited
Locations and Subsidiaries
LOCATIONS AND SUBSIDIARIES
Head Office
Research In Motion Limited
295 Phillip Street
Waterloo
Ontario N2L 3W8
CAN
P:1 519 888 7465
F:1 519 888 7884
http://www.rim.com
Other Locations and Subsidiaries
Research In Motion
451 Phillip Street
Waterloo
Ontario N2L 3X2
CAN
Research In Motion
450 March Road
Kanata
Ontario K2K 3K2
CAN
Research In Motion
4701 Tahoe Boulevard
Mississauga
Ontario L4W 0B5
CAN
Research In Motion - US
Global Dept. of Licensing & Standards
122 West John Carpenter Parkway
Suite 430
Irving
Texas 75039
USA
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