Even though many analyst claim that RIM had a successful BlackBerry Storm launch in November, RIM has lowered their financial outlook for the third quarter of 2008. RIM’s co-CEO Jim Balsillie blamed product launch timing, general economic conditions and foreign exchange volatility. RIM now expects the revenue between $2.75 billion and $2.78 billion down from projected $2.77 billion to $3.10 billion. RIM has also reduced projected new subscribers from 2.9 million to 2.6 million. Adjusted earnings are now expected to be $0.81 to $0.83 per share, as opposed to RIM’s initial forecast of $0.89 to $0.97 per share. RIM joins the long list of mobile phone makers who have decreased the sales and earning forecast for coming quarters. RIM will report the third quarter earnings on December 18th 2008.