By Dan Gallagher

Research In Motion Ltd. is expected to report a 15% rise in net income for its second fiscal quarter after Thursday's closing bell, helped by growing demand for so-called smartphones like the BlackBerry it manufactures.

Devices like the BlackBerry and iPhone have been the top sellers in the wireless market as consumers seek out handsets that can handle phone calls, e-mail, Web surfing and other functions.

That demand is expected to boost RIM's (RIMM) revenue for the period ended Aug. 31 by 40% to $3.62 billion, according to consensus forecasts from Thomson Reuters.

Net income for the quarter is expected to come in at $569.3 million, or $1 per share, according to consensus forecasts. That compares with $495.5 million, or 86 cents per share, for the same period last year.

"We believe that RIM will continue to benefit from two secular trends, accelerating smartphone unit growth and increasing penetration in the corporate market," Kulbinder Garcha of Credit Suisse wrote in a report Tuesday.

The company is expected to add 4 million subscribers, on average. Most analysts expected smart-phone shipments to come in between 8.5 million-8.6 million.

RIM has seen its competition in the smartphone market grow tougher in the recent quarter. Apple Inc. (AAPL) launched its iPhone 3GS in mid-June. Palm (PALM) launched its new Pre smartphone - based on its new webOS platform - a few weeks before.

New products like the BlackBerry Tour have sold well in the market, according to analysts. RIM also likely benefited from promotional activities at carriers such as Verizon, which offered a buy-one/get-one-free program for BlackBerry devices during the quarter.

"On the positive side we note success of new products (Blackberry Tour) that spurred solid replacement demand by existing subscribers," Vivek Arya of Bank of America/Merrill Lynch wrote in a report Tuesday. "However, new subscriber adoption could have been hurt due to success of Apple's iPhone 3GS launch, in our opinion."

Wall Street will be watching the company's outlook closely, given that RIM's shares have more than doubled since the first of the year as investors have raised their expectations for the company. The stock was trading down 2.5% at $83.59 by midday Thursday ahead of the report.

On average, analysts are predicting revenue of $3.92 billion with earnings at $1.05 per share for the November quarter.

RIM is expected to launch new products during the quarter. Among these may be an update to the BlackBerry Storm, the company's first touch-screen device that debuted last year to mixed reviews.

-By Dan Gallagher, 415-439-6400; AskNewswires@dowjones.com