Friday, November 18, 2011

Some More Bad News for BlackBerry

Unfortunately bad news just don't stop coming in for RIM. In a note to investors on Friday, Canaccord Genuity analyst Mike Walkley noted "Our recent checks indicate slowing sell-through trends for the new BlackBerry 7 smartphones the past couple weeks,” the analyst wrote. “Further, with the launch of the iPhone 4S, increasingly price competitive Android smartphones, improving Windows smartphones, and the launch of the Amazon Kindle Fire tablet, we anticipate increasing competition across all tiers of RIM’s products in C2012"

Only yesterday we blogged about how iPhones and Androids are taking over BlackBerry's niche market, Corporate. RIM had hoped for a turnaround with the launch of its latest BlackBerry Bold running OS 7.0 which also featurs a unique design with a full qwerty keyboard (not a slide out) as well as a touch screen.

RIMM has lost more than 50% of its market share in the stock market. Currently stock price for RIMM is trading at $18.76 down from its all time high of $70 back in Feb 2011. That is a significant drop in 8 months. It is sad to see a company which started the mobile email revolution to be going down like this. RIM's last hope is  to see a turnaround with its BBX platform which is supposed to launch sometime in 3Q of 2012.


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