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.

Company:
BlackBerry
Website:
http://www.blackberry.com
Location:
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. Since then, BlackBerry products and services have continued to change the way millions of people around the world stay connected. With the launch of BlackBerry 10, we have re-designed, re-engineered and re-invented BlackBerry. Not only did we introduce a... more


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Techvibes NewsDesk

Techvibes NewsDesk

Techvibes is Canada's leading technology media property.Founded in 2002, Techvibes covers technology and business news that impacts Canadians. We combine breaking local news with international coverage to deliver a unique balance of insight and information. The Techvibes Newsdesk covers a broad beat and publishes general news stories. If you have a story you would like covered, email... more




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