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BlackBerry shares drop due to muted BlackBerry Z10 debut in the US

BlackBerry Z10

The United States of America is a very competitive market for any smart phone, including the new BlackBerry Z10. And the Canadian company should have introduced the new flag ship device in this market way earlier than it did. The new flag ship smart phone hit store shelves on Friday, that is yesterday, and the results were not as expected. The company would not at all be happy with the results. And according to reports, the shares of BlackBerry have dropped down by up to 8 per cent after the release.

The smart phone hit the store shelves in the United States almost after two months of the official launch of the smart phone, and that is a very big gap without even considering the fact that this smart phone will decide what the Canadian company will be doing next. Analysts have reportedly called the launch lackluster.

“This morning we visited and called the stores to survey early demand for the Blackberry Z10,” said Hudson Square Research analyst Daniel Ernst. “We found no lines, no signage announcing the launch, and clerks told us they had very few pre-orders.”

The Economic Times writes, “The uninspiring turnout hurt BlackBerry shares, which ended the day down 7.7 per cent at $14.91 on the Nasdaq. The Canadian company’s Toronto-listed shares fell 8 per cent to close at C$15.19.”

The smart phone has actually got some very good reviews. And there are many people willing to spend their money on this new device. And these people are the ones who have pre ordered the device. And according to the stores in the United States and Canada, there have only been a few pre orders, which is a bad sign for the company which has all its hopes on this one device. Anyway, the Canadian company is working on releasing the smart phone to a few more markets in the next week, as we reported yesterday. Let us hope that this will turn out to be good for the company.

Source: The Economic Times