A couple of other analysts have been tracking the sales numbers of Research in Motion Ltd. (NASDAQ:BBRY) BlackBerry 10 in the U.K., where the new smartphone launched in January. Apparently, reports of dramatic sell-outs was a bit exaggerated. According to analysts at Canaccord Genuity and Pacific Crest, the sell-outs were more due to low initial inventory and not due to high demand. After expectations of as much as 1.7 million units being sold by the end of the company’s fiscal year March 2, the expectation is that only 300,000 units will be sold, which would mean a fifth consecutive quarter of losses.
In a Canaccord Genuity research note, “Our global surveys post the recent BlackBerry Z10 launch indicated mixed initial sales with limited initial supply cited as the reason for early post-launch stock-outs at some carrier stores rather than overwhelming demand. Our follow-up checks have indicated steady but modest sales levels.”
Over at Pacific Crest, it’s a very similar report in its research note. “We continue to believe the Z10 launch involves relatively small shipment volumes and only moderate sell-through so far in markets which have historically been some of BlackBerry’s strongest. As a result, investor optimism that the BB10 could reverse the company’s trajectory appears to be well overdone at current levels, in our view.”
Have you seen the BlackBerry 10 operating system by Research in Motion Ltd. (NASDAQ:BBRY) – er, I mean, BlackBerry Ltd.? What are your thoughts about it, and do you think the new OS will have a fair shot in the U.S. market when it launches sometime next month? Give us your thoughts in the comments section below.
DISCLOSURE: I own no positions in any stock mentioned.
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