Shares of Research in Motion (RIM) plunged 19% in early trading today after the BlackBerry maker reported sales and profits that fell short of expectations.
Ontario-based RIM said that net profit fell to $329m, or 63 cents per share, in its fiscal second quarter from $797m, or $1.46 per share, in the same quarter a year ago.
Revenue declined to $4.2 billion in the quarter which ended on August 27 from $4.6 billion a year ago.
RIM, which is facing stiff competition from Apple's iPhone and handsets running Google's Android software, said it shipped 10.6 million BlackBerry smartphones during the quarter and 200,000 PlayBooks, RIM's rival to the iPad.
Analysts had expected BlackBerry shipments of 11.9 million units and 700,000 PlayBooks.
