Research in Motion suffers due to legal hassles

Research in Motion suffers due to legal hassles

Research in Motion is the maker of the very popular handheld device Blackberry which has been named as the world’s largest selling PDA of the current times. However, the company has just reported that legal costing in an intellectual property against NTP. These figures were released as a part of their first-quarter financial results.

The company is working hard to settle the case by forming a licensing pact, potentially worth $450 million. The courts has already said that RIM has infringed on NTP’s intellectual property. U.S. Patent Trademark Office is currently reviewing the conditions of the eight patents in question that NTP owns. RIM for the time being is allowed to sell their Blackberry devices in the United States.

The company also announced that they have touched a subscriber base of over 3 million customers. They added more than 590,000 members in the last three months. Their first-quarter revenue is USD 453.9 million which is an improvement of around 12% from last year. The company earned almost 70% of these revenues from handhelds sale.

RIM’s shares closed at around a gain of 1% on the close of the market yesterday.