In my earlier post about Research in Motion's bitter earnings miss, I speculated that before investors rush off to sell their Apple shares in sympathy -- worried that iPhone sales might also be slow too -- they may want to study RIM's reasons for its shortfall.
And that appears to be good advice.
On RIM's conference call, it admitted that an enormous marketing push to fend off the coming iPhone onslaught was a key factor in the earnings miss.
- Who Owns RIM?
- Who Owns Apple?
- Apple Peers/Rivals
More specifically, RIM spent nearly $380 million on marketing and advertising its BlackBerry. It's an enormous figure no one was counting on. We had an inkling that costs might be on the rise, but certainly not something like this.