It’s the story of The Little Phone That Could. It’s the very first time that Fortune magazine opened its list of 100 fastest growing companies to businesses around the world and Research In Motion came up on top. Are we surprised? Should we be? And where does the competitor Apple sit in the race? Number 2? Number 10? Try Number 39.
The Economic Times reported that Fortune magazine has revealed the list of the top 100 Fastest Growing Companies. RIM holds 56% of the smartphone market in the US alone. The iPhone doesn’t seem have anything on BlackBerry. To support the reason RIM is number one, let’s look at numbers.
Based near Toronto, in Waterloo, RIM reported a net revenue of 3.42 billion for the first quarter of this year. That’s an increase of 53% from this time last year.
Market forecasts were blown away as RIM showed a record quarterly profit of $643 million dollars in comparison to $462.5 million same time last year.
RIM currently has 12,000 employees on its payroll and not only is for businesses and corporate users, but has broken through the smartphone barrier to common consumers too.
In order to be eligible to make the list, foreign companies should be traded on a US exchange and file quarterly reports. The companies are ranked on a basis of three years revenue, profit growth, and total return.
If the list is an indicator where RIM is going, Jim Balsillie and Mike Lazaridis should be happy to see results, especially where numbers have results and they’re all in black print.
[via: The Economic Times]