BlackBerry Falls on Reports of Weakening Sales, Returns of Z10
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BlackBerry (BBRY), the Canadian smartphone maker, fell the most in two weeks after analysts said sales of its new Z10 device are showing troubling signs.
BlackBerry slid 5.6 percent to $13.85 at 10:10 a.m. in New York. It fell as much as 6 percent earlier, the biggest intraday decline since March 25.
?The U.S. launch of the Z10 started poorly and weakened significantly as the days passed,? Joseph Fersedi, an analyst at ITG Investment Research, said today in a note, citing information from independent dealers. Some U.S. retailers are seeing a significant increase in customers returning their Z10s because they find the interface unintuitive, Detwiler Fenton & Co. said today.
?In several cases, returns are now exceeding sales, a phenomenon we have never seen before,? Detwiler Fenton said.
The company is counting on the touch-screen Z10, its first smartphone to use the BlackBerry 10 platform, to revive growth after losing ground to Apple Inc.?s iPhone and devices that use Google Inc.?s Android software. Retailers in the U.K. and Canada are taking pre-orders for a second BlackBerry 10 phone, the Q10, which has a physical keyboard.
Via Bloomberg
http://mobile.bloomberg.com/news/201...ns-of-z10.html
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