Blackberry Share Price: As of late, it does not seem that much is going right for Research In Motion Ltd (NASDAQ:BBRY). Day in and day out, there are reports that the company has hit another snag in its attempt to regain a larger portion of the smartphone market.
As of this is not bad enough, the company got some more bad news today.
Bloomberg is reporting that Research In Motion Ltd (NASDAQ:BBRY) stock “fell the most in two weeks after analysts said sales of its new Z10 device are showing troubling signs.”
Although Research In Motion was hoping for big things out of the Z10, at this point sales have been disappointing to say the least.
In early trading Thursday, as of 10:10 a.m. in New York, BBRY shares dropped 5.6 percent to $13.85. Earlier in the day, it was down as much as six percent.
Even though Research In Motion Ltd (NASDAQ:BBRY) is pulling out all the stops, including spending more money on marketing to spread the word about its new operating system, nothing seems to be working.
After the launch of the Z10, things started to look bad. Now, the problem has gone from bad to worse. It is being reported by Detwiler Fenton & Co. that a growing number of customers are “returning their Z10s because they find the interface unintuitive.”
According to Detwiler Fenton, this has led to something that you don’t see very often (if at all):
“In several cases, returns are now exceeding sales, a phenomenon we have never seen before.”
BlackBerry has put a lot of stock in its new Z10, hoping that it will help get the company back on the right track. Over the past couple of years, BBRY has lost ground to competitors including Apple and smartphones that use the Google Android operating system.
With the new Research In Motion Ltd (NASDAQ:BBRY) Q10, complete with a QWERTY, making its way to market soon enough, the company has another chance to make up ground. The question is, can they do it?
Right now, things could not look any worse for Research In Motion Ltd (NASDAQ:BBRY). Shares are down, the Z10 is underperforming, and the competition is picking up the pace. What can the company do to break out of its funk?
Check out the stock’s crazy action on the next page: