'No Line of Sight to Profitability': BlackBerry Z10 Sales May be Lower Than Expected, Shares Plunge

Posted by Techvibes NewsDesk

Shares in Waterloo's BlackBerry plunged 5% in trading today after analysts declared lower than expected sales of the company's new flagship smartphone, the Z10.

According to Pacific Crest and Cannacord Genuity, BlackBerry may sell as few as 300,000 Z10 units by March 2, the end of its fiscal year. Earlier estimates suggested upward of two million.

"There is no line of sight to profitability; we remains sellers of [shares in] BlackBerry," wrote Pacific Crest's analyst. The analyst figures BlackBerry will ship less than 1.5 million units to retailers, down from previous expectations of four million units.

RELATED: Former CEO of BlackBerry Sells Entire Stake in Company

However, neither BlackBerry nor any retailers have released official numbers yet. BlackBerry did say its launch days in Canada and the UK were its best ever, though: chief executive officer Thorsten Heins issued an official statement earlier this month that described the Canadian launch of BB10. And ccording to Thorsten, the Z10 launch day "was the best day ever for the first day of a launch of a new BlackBerry smartphone" in Canada.

Specifically, he said the company sold 50% more devices than during any other BlackBerry device launch in Canada.

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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