Smart phone makers brace for iPhone

Palm Inc. and Research In Motion Ltd. reported starkly different earnings, but the two major smart phone makers both face intense scrutiny from Wall Street about whether they'll withstand competition from Apple Inc.'s iPhone.

Research In Motion said Thursday that its fiscal first-quarter earnings grew 73 percent thanks to increased sales and subscriber additions. The BlackBerry maker also announced a 3-for-1 stock split, and the shares surged more than 17 percent after hours.

RIM shares climbed $28.40 to $193.99 in high-volume trading. The shares had ended the regular session up $2.14 at $165.59 before the results were released.

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- Posted: 2007-06-29 11:00:20

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