BlackBerry Stock Sinks 8% Following BB10 Launch Event

Posted by Knowlton Thomas

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.

SEE ALSO: Introducing the Z10, BlackBerry's New Flagship Device

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.

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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Knowlton Thomas

Knowlton Thomas

Knowlton is the managing editor of Techvibes. Based in Vancouver, Knowlton has been published in national publications and has also appeared on television and radio. Previously he was an editor for New Westminster weekly The Other Press and served on its board of directors. When not working, Knowlton enjoys playing tennis, hiking, and exploring weird side streets. more




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