BlackBerry 10 Destined to Fail, Analyst Says
Pacific Crest Securities advices RIM shareholders to sell their stock while they still can.
According to one analyst, RIM's BlackBerry 10 operating system may be "dead on arrival" when it launches in 2013.
Pacific Crest Securities' James Faucette stressed to investors that the delayed mobile platform is unlikely to experience any buzz when it does release, leading to its eventual failure.
"We believe BB10 is likely to be DOA," he wrote, noting that RIM shareholders should sell their shares while they can. "We expect the new OS to be met with a lukewarm response at best and ultimately likely to fail."
RIM, who has seen its smartphone market share decrease every quarter since Android and the iPhone took the market by storm, recently confirmed that the financially troubled firm is targeting a Q1 2013 release for its BlackBerry 10 devices. Over 50 carries are testing the upcoming smartphone lineup.
Since Faucette's note to investors, RIM shares experienced its biggest decrease since June by dropping 9.1 percent to $8.24.