Research In Motion Limited

Company Profile
Publication Date: 22 Jun 2011

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ABOUT DATAMONITOR
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TABLE OF CONTENTS

TABLE OF CONTENTS
Company Overview..............................................................................................4 Key Facts...............................................................................................................4 Business Description...........................................................................................5 History...................................................................................................................6 Key Employees...................................................................................................10 Key Employee Biographies................................................................................11 Major Products and Services............................................................................15 Revenue Analysis...............................................................................................16 SWOT Analysis...................................................................................................17 Top Competitors.................................................................................................22 Company View.....................................................................................................23 Locations and Subsidiaries...............................................................................28

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Company Overview

COMPANY OVERVIEW
Research in Motion (RIM or the company) is engaged in the research, design, manufacture and sale of wireless communications products, services and software. The company operates in North America, Europe and Asia Pacific. It is headquartered in Ontario, Canada. The company recorded revenues of $19,907 million during the financial year ended February 2011 (FY2011), an increase of 33.1% over 2010. The operating profit of the company was $4,636 million in FY2011, an increase of 43.2% over 2010. The net profit was $3,411 million in FY2011, an increase of 38.8% over 2010.

KEY FACTS
Head Office Research In Motion Limited 295 Phillip Street Waterloo Ontario N2L 3W8 CAN 1 519 888 7465 1 519 888 7884 http://www.rim.com

Phone Fax Web Address

Revenue / turnover 19,907.0 (USD Mn) Financial Year End Toronto Ticker NASDAQ Ticker February RIM RIMM

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Business Description

BUSINESS DESCRIPTION
Research in Motion (RIM or the company) designs, manufactures and markets wireless solutions for the worldwide mobile communications market. The company supports multiple wireless network standards by developing integrated hardware, software and services. RIM provides platforms and solutions for seamless accessing information, including e-mail, voice, instant messaging, short message service (SMS), internet and intranet-based applications and browsing. RIMs products and services are used by consumers and organizations. The companys product lines include BlackBerry wireless solution, the RIM Wireless Handheld product line, software development tools and other software and hardware. The company sells its products through collaboration with strategic partners and distribution channels, as well as its own supporting sales and marketing channels. RIM operates as a single business segment. The company primarily derives its revenues from the BlackBerry wireless solution, which includes sales of BlackBerry wireless devices, software and services. The BlackBerry wireless solution primarily provides users with a wireless extension of their work and personal e-mail accounts, including Microsoft Outlook, IBM Lotus Notes, Novell GroupWise, and many ISP e-mail services. RIMs revenues can be further categorized into hardware and other, and software and services. The hardware revenues are derived from sales, primarily to carriers, of BlackBerry wireless devices, which provide users with the ability to send and receive wireless messages and data. RIMs BlackBerry wireless devices include a mobile phone, web browsing capability and enable the use of data functions such as calendar, address book, task and memo lists and other functions associated with personal organizers. Certain BlackBerry devices also include multimedia capabilities. The service revenues encompass the billings to its BlackBerry subscriber account base which is primarily a monthly infrastructure access fee charged to a carrier or reseller, and the carrier or reseller in turn bills the BlackBerry subscriber. RIMs BlackBerry wireless solution includes the software that is installed at the corporate or small- and medium-size enterprise server level, and in some cases, on personal computers. Software revenues include fees from: licensing RIMs BlackBerry Enterprise Server (BES) software; BlackBerry Client Access Licenses, which are charged for each subscriber using the BlackBerry service via a BES; maintenance and upgrades to software; and technical support. RIM also generates revenues from non-warranty repairs, sales of accessories and non-recurring engineering development contracts. In addition, the company has also launched its tablet under the brand, BlackBerry PlayBook in 2011.

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History

HISTORY
Mr. Michael Lazaridis and Mr. Douglas Fregin founded Research in Motion (RIM or the company) 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 1998. 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 e-mail solution, and its stock began trading on the NASDAQ Stock Exchange. In 2002, RIM launched BlackBerry 5810 with built-in phone, and T Support, a suite of technical support and software maintenance programs. In the following year, the company introduced new devices with color displays. In 2004, RIM 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, RIM introduced SureType, a combination of phone keyboard and QWERTY keyboard in the BlackBerry 7100 series. PalmSource and RIM launched e-mail API with first version of the PalmSource mail client to enable development of secure mobile data applications. In 2005, the company entered into collaborations with, Yahoo! and America Online to offer Yahoo! services and AOL instant messaging on the BlackBerry platform. Subsequently, RIM 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, the company 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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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, RIM 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 2009, RIM acquired Chalk Media, a publicly-held company based in Vancouver, British Columbia. Later, the company expanded its retail distribution in India through collaboration with Redington India to establish national retail distribution channels for BlackBerry smartphones. In the same year, 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. RIM also acquired Certicom, a provider of software and hardware solutions for protecting content, applications and devices, in 2009. In the following month, the company launched BlackBerry App World, an on-device store of application for BlackBerry smartphones. In 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 application programming interface that enables developers to make push real-time content to BlackBerry smartphones. Furthermore, 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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History

RIM and Visto entered into a definitive agreement to settle all outstanding litigation between the companies in 1999. Subsequently, the company 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. The company launched the new BlackBerry Curve 8520 smartphone, a new addition to the BlackBerry Curve series of smartphones. In the same year, 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 2009, Adobe and RIM collaborated to bring Adobe Flash Player support to the BlackBerry platform. RIM introduced the BlackBerry Widget Software Development Kit 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 towards the end of 2009. Later, the company signed a distribution agreement with Digital China Holdings for distribution of BlackBerry smartphones in China. In 2009, China Mobile and RIM announced plans to support TD-SCDMA and TD-LTE technologies on the BlackBerry smartphone platform. Both companies also planned to launch BlackBerry Internet Service and BlackBerry smartphones for small to medium-sized businesses 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, RIM launched BlackBerry Pearl 3G smartphone. Also, in the same month, the company introduced BlackBerry Mobile Voice System 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 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.

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History

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. In September 2010, RIM launched its advertising service for the BlackBerry Application Platform which helps developers integrate advertising in their BlackBerry smartphone applications quickly and easily, while also allowing advertisers, agencies and brands to work with a broad selection of advertising networks. In the same month, the company also launched BlackBerry Enterprise Application Middleware, an application development platform that will enable commercial enterprise and corporate developers to more easily build enterprise applications and services for BlackBerry smartphones. The BlackBerry Enterprise Application Middleware will make it easier to build essential enterprise functions in BlackBerry smartphone applications that are currently not available or easily built on any other mobile platform. Tapping into the growing table market, RIM has launched BlackBerry PlayBook tablet and BlackBerry Tablet OS in September 2010. The company continues to partner with several peers to launch enhancements to its offerings and in December 2010 launched Amazon MP3 for BlackBerry smartphones in beta in the US, in collaboration with Amazon. In February 2011, RIM launched two additional BlackBerry 4G PlayBook tablets, featuring support for the evolving LTE and HSPA+ high speed wide area wireless networks. RIM along with China Telecommunications announced plans to launch BlackBerry services for small businesses in China in May 2011. In June 2011, the company expanded the market for its tablet by launching it in 16 markets across the world.

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Key Employees

KEY EMPLOYEES
Name
Michael Lazaridis James L. Balsillie John E. Richardson David Kerr Roger Martin Barbara Stymiest Antonio Viana-Baptista John Wetmore Don Morrison Robin Bienfait Brian Bidulka David Yach Jim Rowan Thorsten Heins

Job Title
President and Co-Chief Executive Officer Co-Chief Executive Officer and Co-Chairman Lead Director Director Director Director Director Director

Board
Executive Board Executive Board Non Executive Board Non Executive Board Non Executive Board Non Executive Board Non Executive Board Non Executive Board

Compensation
5112128 CAD 5112128 CAD 380000 CAD 300000 CAD 300000 CAD 350000 CAD 300000 CAD 330000 CAD 1747741 CAD

Chief Operating Officer, BlackBerry Senior Management Chief Information Officer Chief Financial Officer Chief Technology Officer, Software Chief Operating Officer, Global Manufacturing and Supply Chain Chief Operating Officer, Product Engineering Senior Management Senior Management Senior Management Senior Management Senior Management

1769973 CAD

1921663 CAD 1922643 CAD

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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 and Co-Chairman Since: 2010 Age: 49 Mr. Balsillie has been the Co-CEO at RIM since 1992 and has been the Co-Chairman of the board since 2010. He served as the company's Director from 1993 to 2009 and was reappointed as a Director in 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, a research institute focused on the restructuring of international governance practices, with a particular emphasis on financial and economic institutions.

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 was the Chairman at Ontario Pension Board from 2004 to 2007. Previously, Mr. Richardson was 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. He was a past Board Member

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Key Employee Biographies

with The Insurance Bureau of Canada and the Facility Association. Mr. Richardson is currently the Chairman at Boiler Inspection and Insurance and a Trustee at Armtec Infrastructure Income Fund.

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
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 currently serves as 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

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Key Employee Biographies

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 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. Mr. Morrison holds an MBA and BA from the University of Toronto and also participated in the Executive Program at the University of Virginia, Darden Business School.

Robin Bienfait
Board: Senior Management

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Key Employee Biographies

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. She graduated from the Georgia Institute of Technology with a Masters degree in Management of Technology, and also holds a Bachelors degree in engineering from Central Missouri State University and an associate in business degree from Maryland University European Division.

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.

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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Major Products and Services

MAJOR PRODUCTS AND SERVICES

Research in Motion (RIM or the company) is engaged in the research, design, manufacture and sale of wireless communications products, services and software. 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

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Revenue Analysis

REVENUE ANALYSIS
Research in Motion The company recorded revenues of $19,907 million during the financial year ended February 2011 (FY2011), an increase of 33.1% over 2010. For FY2011, the US, the company's largest geographic market, accounted for 39.3% of the total revenues. RIM generates revenues through two business lines: hardware and other (82.5% of the total revenues during FY2011) and software and services (17.5%). Revenues by Division In FY2011, the hardware and other division recorded revenues of $16,416 million, an increase of 31% over 2010. The service and software division recorded revenues of $3,491 million in FY2011, an increase of 44.4% over 2010. Revenues by Geography The US, RIM's largest geographical market, accounted for 39.3% of the total revenues in FY2011. Revenues from the US reached $7,823 million in 2011, a decrease of 9.2% compared to 2010. The UK accounted for 11.1% of the total revenues in FY2011. Revenues from the UK reached $2,218 million in 2011, an increase of 53.3% over 2010. Canada accounted for 7.1% of the total revenues in FY2011. Revenues from Canada reached $1,408 million in 2011, an increase of 66.8% over 2010. Other accounted for 42.5% of the total revenues in FY2011. Revenues from other reached $8,458 million in 2011, an increase compared to $4,042 in 2010.

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SWOT Analysis

SWOT ANALYSIS
Research in Motion (RIM or the company) is engaged in the research, design, manufacture and sale of wireless communications products, services and software. The company has established a strong presence in the enterprise niche which has facilitated a favorable competitive environment for the company. However, intense competition in the mobile communications market has led to erosion of RIMs unique competitive advantages rendering it vulnerable to market share losses. Strengths Enterprise niche provides a favorable competitive environment Strong brand recognition Focus on research and development Opportunities BlackBerry will continue dominating the growing enterprise smartphone market Positive trends in the tablets market Increased adoption of cloud computing Weaknesses Market share losses Glitches in product launches Patent infringement claims

Threats Intense competition erodes RIMs competitive advantages Margins will be impacted as the average price of devices decline Rapid technological changes and short life cycles

Strengths

Enterprise niche provides a favorable competitive environment RIM has historically focused on business-grade solutions which has won the company a market-leading role in the enterprise market.The functionality, security and reliability of the BlackBerry Enterprise Solution has enabled the company to become the leader in the enterprise market with more than 90% of the Fortune 500 companies deploying the BlackBerry solution. RIMs unique security architecture of the BlackBerry platform is of value addition to the corporations and governments around the world and continues to stand out in the marketplace. UKs National Technical Authority for Information Assurance confirmed in April of 2011 that the BlackBerry Enterprise Solution is still the only smartphone system approved for use with restricted data by Government departments and organizations, which is a testimony to RIMs security architecture. RIM has also forayed into the cloud technology and it has been part of the companys business for a long time. The always-on connectivity of a BlackBerry smartphone is powered by RIMs own cloud infrastructure an infrastructure which has been developed, managed and refined for more than 10

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SWOT Analysis

years. This infrastructure helps RIM deliver real-time data push, market-leading security and backend integration with carrier systems. This cloud infrastructure will be a competitive advantage as the enterprise adaption of cloud continues to increase. While the mobile communication device market is highly competitive, RIM was able to successfully establish a niche in the enterprise market. The company offers a unique set of services while its competitors are yet to target the enterprise market effectively. As a result, in this niche segment, RIM is able to establish a favorable competitive environment. The companys leadership position in the enterprise market will facilitate competitive advantages. Strong brand recognition RIMs BlackBerry enjoys strong brand recognition. BlackBerry is listed in leading top 100 global brand rankings. According to one such ranking, BlackBerry was ranked 54th in 2010 which was higher than the 63rd rank in 2009. BlackBerry brand is valued at $6,762 million according to 2010 estimates, which is an increase of 32% compared to 2009. RIM is one of the leading players in the mobile communications market. The company offers its products in over 175 countries, through more than 595 operators and distribution partners, According to the companys research, BlackBerry is the highest selling smartphone brand in the US, Canada, Latin America and the UK. Furthermore, BlackBerry service adoption in prepaid markets has also been launched around the world and BlackBerry is the leader in the prepaid smartphone market in the Netherlands, Indonesia and the UK. The companys brand has enabled it to penetrate new markets and product lines effectively and well positions the company for further such expansions. Strong brand recognition can be converted into higher sales and customer loyalty, which will be meaningful drivers of revenues. Focus on research and development RIM has been consistently spending on research and development to enhance the product offering. R&D expenses were 6.8%, 6.5% and 6.2% of the revenues in 2011, 2010 and 2009 respectively. Comparatively, Apples R&D expenditure as a percentage of its revenues for FY2010 was 2.7% and 3.1% in 2009. Sustained R&D expenditure will enable the company to maintain its competitive positioning. Additionally, converting the expenditure into revenues will enhance the top-line growth.

Weaknesses

Market share losses RIM has lost market share due to product positioning and intense competition. The companys share of the US smartphone subscribers dropped 4.7 percentage points to 25.7% in April 2011 from three months earlier, according to industry estimates. RIM's US market share declined from around 30% in January 2011 to 26% in April 2011. BlackBerry's unit sales growth has been volatile and has ranged between 40% and 110% between 2005 and 2010, indicating that the product line lacked consistent appeal over the past five years. Although RIM has been in the mobile handset market for

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SWOT Analysis

over a decade, the company has lost the consumer market to rivals like Apple, which only entered the mobile handset market in 2007, and Google, which entered it in 2008. RIM has been lagging in the introduction of mobile applications (apps), which have been of primary appeal to the consumers. As of March 2011, Apple App Store had 350,000 and Android Market had 250,000 apps, while RIM had a mere 20,000 apps. Lack of new product launches, intense competition and lack of strong positioning in the smartphone market have been the primary reasons for market share losses. Continued market share losses will convert into revenue and profitability declines for the company. Glitches in product launches RIM has witnessed a series of product delays and has lost the traction of new product launches. The company has been unable to keep pace with the rapidly evolving mobile market where Apple and Googles Android platform are adding customers at a fast pace. The company hasnt introduced a major new BlackBerry model since August 2010 and has repeatedly delayed the launch of BlackBerry Bold 9900 model. Furthermore, RIMs QNX operating system is supposed to be a competitor to the iPhone, but the iPhone was launched years ago and have released newer versions as well. On the other hand, QNX will be released only by early 2012. RIM despite launching its tablet device quickly had recalled some of its PlayBook tablet computers due to an operating system flaw. The product has been criticized to have been rushed for launch before completely ready. RIM had several glitches with the product launches which severely hampered the companys ability to seamlessly move between platforms and product lines. The companys inability to launch a major BlackBerry model has been one of the reasons for losing the market share to Apple and Google. The glitches in the product launches had an unfavorable impact on the market share and have been severe competitive disadvantages. The company will find it very hard to retain customers in such scenario. Furthermore, as its competitors continue to foray ahead with new products, RIM will find it difficult to take customers from the competitors at a later stage when it launches new products. This will render the profitability and market appeal of the new product launches highly questionable. Patent infringement claims Several patent infringement violation cases were filed against the company by several parties. The company has allegedly used several patented products without obtaining licenses. Most recently in June 2011, Dolby Laboratories filed patent infringement lawsuits in the US and Germany against RIM. The company has allegedly infringed Dolby Laboratories patents covering digital audio compression technologies and is said to have used the patented technologies in its BlackBerry smart phones and PlayBook tablet devices, without having obtained licenses. Litigations involve huge expenses and in case the allegations are found to have basis, the company will have to incur huge expenses as penalties. Furthermore, RIM might be prohibited from using such technologies which will impact the product appeal as well. The company suffers high expenses, contingent liabilities and might be restricted from using certain technologies which will impact RIMs cost structure adversely.

Opportunities

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SWOT Analysis

BlackBerry will continue dominating the growing enterprise smartphone market RIM is estimated to continue its dominance in the enterprise smartphone market, which is estimated to grow strongly. According to industry estimates, global smartphone shipments to mobile business customers are estimated to grow at a CAGR of 15%. Furthermore, the mobile business customer smartphone installed base is estimated to exceed 30% worldwide while in North America, it is expected to exceed 65%. The industry estimates also suggest that the BlackBerry devices will be market leader even by 2015 despite the Android and Apple platforms gaining market share. RIM has established a niche in the enterprise segment. More than 100,000 application developers have signed up with BlackBerry taking the total to 350,000 developers, to offer competitive applications for the BlackBerry smartphones. The growing enterprise market coupled with the companys market dominance in the area will be beneficial for the top-line. Positive trends in the tablets market The tablets market is estimated to record strong growth amid growing demand for personal communication devices. BlackBerry has recently launched PlayBook tablet which will enable RIM to tap into this market. According to the industry estimates, the total available market for the tablet PCs will grow two-fold in 2011 reaching 51.3 million by the end of 2011. Additionally, enterprises are increasingly investing in tablets. According to industry estimates, about 7% of companies provided some of their employees with tablets and the figure will double in the first quarter of 2011. Furthermore, enterprise customers are estimated to account for up to 50% of tablets sold by 2015. The company has sold over 500,000 PlayBooks since the time of its launch and can tap into the tablet market to enhance revenues and gain market share in one of the fastest growing segments of the personal communication device market. Increased adoption of cloud computing As the adoption of cloud computing increases, RIMs well established infrastructure can gain market share in the segment. According to industry estimates, the global cloud computing market is expected to grow from $37.8 billion in 2010 to $121.1 billion in 2015 at a CAGR of 26.2% from 2010 to 2015. Corporate customers are increasingly moving their IT infrastructure to cloud-based architectures and RIM is well positioned to benefit from this shift. The BlackBerry solution was developed from the beginning as a cloud-based service and it is this robust architecture that enables many competitive advantages for the BlackBerry solution, including real-time push services, industry leading security and back-end integration with carrier provisioning and billing systems. RIM plans to further leverage these strengths to grow presence as a cloud-based enterprise service provider through a variety of strategies including partnerships with other leading suppliers of cloud-based solutions. By leveraging its established cloud infrastructure the company can bolster competitive position in the growing cloud computing market.

Threats

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SWOT Analysis

Intense competition erodes RIMs competitive advantages RIMs competitive advantages have been witnessing slow erosion and its peers gear up to increase market share. The company has been a leader in the smartphone market and has lost share significantly to the competitors due some unsuccessful models launched in the market. RIM is dominated by the iPhone in the premium smartphone sector and by cheap Android phones in Asia at the low-end. According to the industry estimates, Android phones in China sell for less than $50. Furthermore, the companys competitors are changing the landscape rapidly and several unique features that BlackBerry devices enjoyed are replicated. Apple launched iMessage service in direct competition to BlackBerry messenger. Apple also launched iCloud and its enhancements. This is estimated to further make iTunes more powerful and the competition even tougher. RIM has difficulty competing with iTunes. On the other hand, Android devices are competing on the price driving penetration into the smartphone market. RIM faces significant competition from formidable players like Google and Apple, the companies with history of launching several successful products. This competition could lead to market share losses and will negatively impact the sales. Margins will be impacted as the average price of devices decline The average prices of the smartphones and tablets continue to decline. In line with the industry trend, the industry estimates forecast an 8% decline in BlackBerrys smartphone average pricing in 2011 compared to 2010. The average prices are estimated to be around $283, and are further estimated to drop to $250 by 2013. Similar trend is noticed in tablets as well. In 2011, average sales price of a tablet is expected to be around $423 which will decline to $300 in 2013 and $263 in 2015. Additionally, the consumers are opting for lower priced devices creating an unfavorable product mix. RIMs gross margins will be adversely impacted due to these declines in the prices and will adversely affect the profitability of investments in new products. Rapid technological changes and short life cycles The wireless communications industry is characterized by rapid technological changes, evolving industry standards, frequent new product introductions and short product life cycles. Consequently, RIMs operational performance is directly correlated to the companys ability to keep pace with these technological advancements and offer products at competitive prices. The process of developing new technology however is complex and is associated with uncertainty. RIMs business will be hampered if it is unable to accurately predict emerging technological trends and keep pace with the changing consumer preferences. Additionally, if the companys competitors launch any new technologically advanced products, the demand for RIMs products will be adversely affected. In addition to the uncertainty associated with the rapid technological changes, the short life cycles associated with the industry will adversely affect the return on the investments for new product launches. A technology could become obsolete before the costs are recovered. All these factors impact the revenue generation potential and the profitability of operations adversely. RIM has in the recent past suffered market share losses partly due to its inability to predict the end user demand accurately and partly as its competitors launched advanced products at a faster pace. Any such rapid technological advancement could further impact the companys operations adversely.

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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. Google Inc. Dell Inc.

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Company View

COMPANY VIEW
A statement by Michael Lazaridis, President and Co-CEO; and James L. Balsillie, Co-CEO and Co-Chairman at Research In Motion is given below. The statement has been taken from the company's 2011 annual report. Fiscal 2011 was another year of exceptional growth and accomplishment with consistent, strong financial performance, further expansion of global market share, and record shipments of over 52 million BlackBerry smartphones. These achievements are a direct reflection of the dedication and hard work of more than 17,000 employees and the strength of our business partnerships around the world. We are entering fiscal 2012 with a clear direction and set of priorities that will leverage our strong competitive advantages in order to capitalize on what we believe will be another year of tremendous opportunities for Research In Motion. Our confidence in the year ahead is made stronger by the talented people in our organization, the groundwork we laid in Fiscal 2011, and our continued commitment to innovation and growth. We believe the new BlackBerry PlayBook tablet and BlackBerry Tablet OS will redefine the limits of mobile computing and set the stage for an exciting year of new product and service launches that will further entrench the BlackBerry platform as one of the worlds leading mobile platforms for both businesses and consumers. Strong Financial Performance RIM delivered record revenue and earnings growth in Fiscal 2011. Revenue grew 33.1% over the prior year to a record $19.9 billion and net income grew 38.8% to $6.34 per share fully diluted. We continue to invest in innovation with Research and Development expenses representing approximately 6.8% of revenue for the year. Sales and marketing expense represented 12.1% of revenue as we expanded these efforts to drive growth in international markets and new market segments. RIM continues to have a strong balance sheet and generated approximately $4 billion from cash operations during fiscal 2011, exiting the year with approximately $1.8 billion in cash and equivalents. We remain focused on building shareholder value and we repurchased 37.2 million shares during the year. Fiscal 2011 was also busy in terms of corporate acquisitions with several strong companies joining the RIM family of companies, including QNX Systems, The Astonishing Tribe, Viigo and Cellmania. Industry Leading Smartphone Technology RIM is focused on high quality engineering and delivering a portfolio of products and services that offer exceptional value and unique mobile experiences for our customers. In Fiscal 2011, we launched several successful smartphones including new additions to the BlackBerry Bold, BlackBerry Curve and BlackBerry Pearl families of smartphones, as well as the new BlackBerry Style and BlackBerry Torch smartphones. The BlackBerry Torch is the first smartphone to feature a BlackBerry keyboard together with a full touch screen display and the new BlackBerry 6 operating system. In 2010, BlackBerry was the #1 selling smartphone brand in a number of markets around the world including the United States, Canada, Latin America,1 and the United Kingdom.2 Heading into the new fiscal

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Company View

year, we have an exciting roadmap of products and services planned, including 4G tablets and a variety of new QWERTY, hybrid and touch screen smartphone models. The BlackBerry 6 operating system was launched on the BlackBerry Torch smartphone last fall and is now available on a range of BlackBerry smartphones. BlackBerry 6 delivers an expanded and enhanced set of features, as well as a compelling new user interface. Key features include a powerful Webkit browser for an improved mobile internet experience, universal search for quick access to information, and an integrated social networking platform that allows users to send and receive updates on their various social networking applications. Global Success Research In Motions global presence expanded substantially over the past year as the attractiveness of BlackBerry smartphones in prepaid and entry level segments helped drive record sales outside of North America. International markets accounted for approximately 54% of revenue in fiscal 2011 versus 37% a year ago, and BlackBerry products and services are now available through over 595 carriers and distribution channels in over 175 countries around the world. The BlackBerry Messenger (BBM) service continues to help drive growth in many markets as it becomes a preferred mode of messaging for tens of millions of people across all walks of life. There are now over 39 million BBM users globally and the popularity of BBM continues to grow. RIM rolled out an integrated marketing campaign featuring BBM over the past year which helped drive strong adoption of the service in many markets, including Latin America where BBM has achieved an impressive penetration of more than 85% of BlackBerry subscribers in the region. Prepaid BlackBerry service plans are also a significant growth driver, particularly in international markets where our partners have strongly embraced prepaid BlackBerry service offerings. The efficiency of the BlackBerry solution on both older and newer networks allows our partners to offer economical pricing plans for the messaging and social networking applications that matter most to end users. Offerings such as BlackBerry Internet Service Social plans, which deliver unlimited BBM and social networking, are gathering momentum and are helping drive growth around the world. These offerings have had particular success in Asia Pacific and Latin America, and they are beginning to be adopted more broadly in Western Europe and North America as well. Enterprise Leadership The phenomenal success of the BlackBerry solution began in the enterprise market and this segment remains important to RIMs growth strategy for the future. The unique security architecture of the BlackBerry platform is valued by corporations and governments around the world and continues to stand out in the marketplace. In fact, the UKs National Technical Authority for Information Assurance (known as CESG) confirmed in April of 2011 that the BlackBerry Enterprise Solution is still the only smartphone system approved for use with restricted data by Government departments and organizations. We continue to enhance the BlackBerry solution for enterprise customers and, in the past year, we added several new platform extensions including BlackBerry Balance which allows corporate IT departments to securely enable access to corporate messaging and other corporate data from an employees personal BlackBerry smartphone without imposing incremental costs on the company. Corporate customers are also increasingly moving their IT infrastructure to cloud-based

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Company View

architectures and RIM is in an excellent position to benefit from this shift. The BlackBerry solution was developed from the beginning as a cloud-based service and it is this robust architecture that enables many competitive advantages for the BlackBerry solution, including real-time push services, industry leading security and back-end integration with carrier provisioning and billing systems. Over the coming year, RIM plans to further leverage these strengths to grow our presence as a cloud-based enterprise service provider through a variety of strategies including partnerships with other leading suppliers of cloud-based solutions such as Microsoft. The BlackBerry PlayBook tablet also adds to RIMs portfolio of professional grade products and services and establishes a new standard for tablets in the enterprise segment, allowing organizations to leverage their existing BlackBerry solution and the trusted BlackBerry security architecture when deploying these productivity enhancing devices. In addition to providing solutions for large enterprises, RIM is also committed to helping small business professionals improve communications and business productivity. Over the past year we had strong adoption of BlackBerry Enterprise Server Express and we expect penetration in this market to continue as we leverage offerings such as MDaemon Messaging Server BlackBerry Edition, BlackBerry Protect, and BlackBerry Management Center, a cloud services offering for small and medium-sized businesses. Accelerating Consumer Adoption Consumer adoption of BlackBerry smartphones continued to grow over the past year as customers increasingly recognized the unique value of the BlackBerry solution and more people made the switch from feature phones to smartphones. Throughout the year, we launched new consumer focused offerings to strengthen the mobile experience, including the user friendly BlackBerry 6 and enhancements to the BBM platform. As we move into the new fiscal year, we believe the uncompromised user experience delivered by the BlackBerry PlayBook tablet will also win over new consumers as they see the benefits and advantages of the product. RIM has designed the BlackBerry PlayBook tablet to be both professional grade and consumer friendly since so many customers use mobile devices for both work and personal purposes. The ultra portable BlackBerry PlayBook tablet is a multitasking powerhouse that provides the performance needed to properly deliver uncompromised web browsing and stunning visuals for 3D gaming and High Definition video. The incredible performance is a function of both the premium hardware design choices RIM made for this important new product as well as the underlying BlackBerry Tablet OS that is based on the POSIX certified QNX Neutrino microkernel from QNX Software Systems (which RIM acquired last year). In addition to the BlackBerry PlayBook tablet, we also have an exciting line-up of new smartphone offerings on the roadmap for fiscal 2012 and more and more of the high-end features of the BlackBerry PlayBook tablet platform will be integrated into BlackBerry smartphones over time. We have also been focused on growing the number of apps available for the BlackBerry platform. BlackBerry users can download and purchase applications through BlackBerry App World which is now available in more than 100 countries around the world. There are now more than 3 million apps downloaded per day from BlackBerry App World and the number is growing. During fiscal 2011, we also made it easier than ever for consumers to purchase apps by adding new payment options, including the ability for customers to add purchases directly to the mobile phone bill they receive from their carrier. Over the coming year we plan to further grow the number of apps on BlackBerry App World and to make these new payment options more broadly available to our customer base.

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Company View

Growing Application Platform In fiscal 2011, the number of registered BlackBerry application developers grew by more than 100,000 to over 350,000 and RIM remains committed to delivering a powerful software and services platform to enable these developers to create, distribute and monetize innovative and compelling offerings for BlackBerry smartphones. Over the past year a number of software development kits (SDKs) were launched to make it easier for developers to leverage unique capabilities of the BlackBerry platform such as BBM, geo-location, presence, integrated calendar and alerts and to generate additional revenue through the new BlackBerry Advertising Platform and BlackBerry Payment Service. To further extend the flexibility in payment options for BlackBerry subscribers we are also introducing the BBM Mobile Gifting platform which will integrate with BlackBerry App World and carrier billing systems to allow BlackBerry subscribers to seamlessly and instantaneously gift airtime, applications and other carrier services from one subscriber to another. The new BlackBerry Tablet OS also provides significant opportunities for both current and prospective BlackBerry developers and the response from the developer community has been excellent. It offers support for industry standard tools that are already familiar to millions of developers, full POSIX compliance and support of Open GL for 2D and 3D graphics. The BlackBerry Tablet OS already supports an incredibly robust platform with support for Web development standard HTML5, through the BlackBerry WebWorks SDK for Tablet OS, and Adobe AIR, through the BlackBerry Tablet OS SDK for Adobe AIR. The BlackBerry Tablet OS is built from the ground up to run WebKit and Adobe Flash as well, giving developers a fast and true Web experience to leverage. In addition, with the upcoming BlackBerry Tablet OS native development kit (NDK), C/C++ tools will be added to our repertoire to give developers one of the broadest and deepest development platforms. BlackBerry Service RIMs global BlackBerry Infrastructure remains a core advantage for our business and is an integral part of RIMs ability to deliver industry leading push services, security, manageability and spectral efficiency for RIMs customers and partners. The amount of global data traffic supported by the BlackBerry Infrastructure more than doubled year over year to more than 15 petabytes each month and our focused investments made throughout the year helped us evolve and expand the infrastructure to support this growth and to build for the future. BlackBerry Customer Care efforts also expanded in Fiscal 2011. In addition to our multiple existing customer care facilities around the world which offer 24/7 service, RIM continues to assess needs and respond with localization efforts and support for new markets, offering support in multiple languages. We also continue to extend our online reach to provide additional support options for customers. The Year Ahead RIM is well positioned to build on the success of the past year and to continue driving growth in the adoption of BlackBerry products and services in new markets and segments. Over the next year, we plan to expand our leadership in the enterprise market, further penetrate prepaid and entry level

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Company View

segments, expand our cloud services offerings, further entrench the BlackBerry platform as a leading mobile social networking platform, expand the footprint of QNX software in automotive and other markets and continue delivering leading edge, high quality smartphone and tablet products and services in markets around the world. Collaboration and partnerships will be key to meeting our goals and we look forward to working with carriers, distributors, software developers, suppliers and other partners to deliver growth in Fiscal 2012. We thank our shareholders for their support over the past year and we look forward to providing updates on our progress over the coming year.

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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

RIM Manufacturing Facility 451 Phillip Street Waterloo Ontario N2L 3X2 CAN Research In Motion Mississauga 4701 Tahoe Boulevard Mississauga Ontario L4W 0B5 CAN Research In Motion Ottawa 450 March Road Kanata Ontario K2K 3K2 CAN Research In Motion Texas Global Dept. of Licensing & Standards 122 West John Carpenter Parkway Suite 430 Irving Texas 75039 USA

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