This morning, BlackBerry unveiled both the software—BlackBerry 10—and the hardware—the Z10 and the Q10—of its future.
The company presented a solid case for BB10: the platform launches with more than 70,000 apps, by far the most of any new mobile operating system ever. And the specs of the devices are impressive, with dual-core processors and a generous 2GB of memory to manage the software's potent multitasking. Both the interface and the actual phones look great.
But investors aren't happy, evidently. The stock is tanking. It was down 4% right after the launch and has since plunged even further, now down more than 8%.
It could be because the device doesn't launch in the US until March (although it's available much sooner in Canada and the UK). Or it could be folks just weren't impressed with BB10. Whatever the reasons, the company has erased most of its January gains in less than one hour. We'll see it if can bounce back by the end of the day, but so far it isn't looking likely.
UPDATE: The stock has taken an even steeper dive. It ended the day down 12% and is down an additional 1% in afterhours trading.