Blackberry maker Research in Motion is seeing its sales and profits soar, CNN reports. Third-quarter results show revenue has doubled from a year ago and the Canadian company looks set to end the year on a high. Much of the growth is credited to Blackberry use expanding beyond its corporate base and into the hands of mainstream consumers.
"Consumers want smarter handheld devices," a tech analyst commented, "RIM was smart enough to see this trend early." The quarterly results are ahead of Wall Street expectations and will likely allay fears that RIM would be hit by an economic slowdown and competition from the iPhone. The firm's stock leaped more than 10% following the news.