BlackBerry Shares Drop More Than 5% as Analysts Resurrect Pessimism

Posted by Techvibes NewsDesk

BlackBerry is down more than 5% in trading today, its biggest fall in two weeks.

The decline is due to renewed pessimism from analysts, who seem to have already lost interest in the fact that BlackBerry is once again profitable (even after they not long ago said the Canadian company had "no line of sight to profitability").

“The US launch of the Z10 started poorly and weakened significantly as the days passed,”  ITG Investment Research analyst Joseph Fersedi said today in a note.

SEE ALSO: Kevin O'Leary: "BlackBerry 10 is the Best Technology on the Market"

Some US retailers are claiming that the Z10 is being returned en masse, most often due to what they feel is an unintuitive interface. In some cases, it's being claimed that returns are exceeding sales. However, no hard numbers have yet been supplied to support this claim.

The BlackBerry Q10 is available for preorders in the UK and Canada and is expected to launch in the US next month.

Waterloo, Ontario, Canada

Research In Motion (RIM), a global leader in wireless innovation, revolutionized the mobile industry with the introduction of the BlackBerry® solution in 1999. BlackBerry products and services are used by millions of customers around the world to stay connected to the people and content that matter most throughout their day. The BlackBerry product line includes the BlackBerry® PlayBook™ tablet, the award-winning... more

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Techvibes NewsDesk

Techvibes NewsDesk

Techvibes is Canada's leading technology media property. Originally founded in 2002, Techvibes is dedicated to covering social, mobile, and startup news that impacts Canadians. Our editors and nationwide network of reporters combine breaking hyperlocal news with international coverage to deliver a unique balance of insight and information. The Techvibes Newsdesk covers a broad beat and... more

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