RIM to repurchase shares

LINCOLNSHIRE - Research In Motion Ltd., maker of the BlackBerry phone, plans to repurchase as much as $1.2 billion of shares to compensate investors as revenue growth slows amid stiffer competition.

The company may buy as many as 21 million shares, or about 3.6 percent of its stock outstanding, according to a statement Thursday.

The purchases may start on Nov. 9. RIM said it hasn't bought back any shares in the past 12 months.

RIM forecast third-quarter sales in September that fell short of analysts' projections.