BlackBerry Z10 sales lower than expected

BlackBerry, formerly known as Research In Motion, may have sold significantly less of its new BlackBerry Z10 smartphone than previously expected, news that will dampen investor confidence in a turnaround at the Canadian company.

BlackBerry, formerly known as Research In Motion, may have sold significantly less of its new BlackBerry Z10 smartphone than previously expected, news that will dampen investor confidence in a turnaround at the Canadian company.

 
Analysts Cannacord Genuity and Pacific Crest cut their estimates for sales of the Z10 after contacting shops and supply chain sources. Originally BlackBerry was predicted to sell upwards of 1.75 million of the new flagship model, but revised estimates are down to a paltry 300,000.
 
Pacific Crest said it expects BlackBerry to ship between 1 million and 1.5 million Z10 units by the end of this fiscal year, down considerably from the initial three to four million units it expected. It also said that it does not see all of these selling.
 
 BlackBerry Z10 sales lower than expected
 
The firm also warned of cannibalisation of BlackBerry's Bold 9900 sales, which it said have declined since the launch of the Z10. It seems a good chunk of Z10's sales are from existing BlackBerry customers, suggesting the brand is still not attracting enough people from rival operating systems like iOS, Android and Windows Phone.
 
The figures mean that BlackBerry could make another loss this quarter, its fifth in a row. Pacific Crest said it sees no profitability in sight, a fact that will likely accelerate share price drops surrounding the disappointing BlackBerry 10 launch.
 
The Z10 has not launched in the US yet, however. That release was held back until March of this year, which hurt BlackBerry's sales figures. The US launch may help recoup some losses, as might the release of the Q10 with keyboard later this year, but it seems that BlackBerry is still in for a major struggle to keep afloat.
 
Source: The Guardian