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Unimpressed with new BlackBerry phones, analysts cut RIM targets

Zach Epstein
August 4th, 2011 at 11:50 AM

BGR took hands-on looks at the all new BlackBerry Bold 9900, the BlackBerry Torch 9810 and the BlackBerry Torch 9850/9860 last night, and while we were pleasantly surprised with RIM’s new hardware, several analysts were not impressed. Jefferies & Co.’s Peter Misek and Sterne Agee’s Shaw Wu each cut their price targets on RIM stock Thursday morning, suggesting that the Waterloo, Ontario-based vendor’s BlackBerry 7 phones just aren’t enough to reignite the public’s interest in BlackBerry devices. “Handset shipments will be worse than expected in the November quarter despite the sell-in of new OS 7 handsets,” Misek wrote Thursday in a note to investors. RIM said on Wednesday that the upcoming BlackBerry device releases across more than 225 carriers will be the vendor’s biggest launch ever, but Misek isn’t convinced that the handsets will get enough of a push. “Preliminary reviews of the handsets cite improved speed but a browsing experience still inferior to Android and iOS. We do not believe carriers will put extensive marketing dollars behind the new handsets,” he wrote. Shaw Wu at Sterne Agee said the devices were “better late than never,” but like Misek, he’s still not convinced the devices will be a hit. Misek cut his price target on RIM stock to $22 from his earlier target of $24, and Wu dropped his target to $23 from $27.


Zach Epstein

Zach Epstein has worked in and around ICT for more than 15 years, first in marketing and business development with two private telcos, then as a writer and editor covering business news, consumer electronics and telecommunications. Zach’s work has been quoted by countless top news publications in the US and around the world. He was also recently named one of the world's top-10 “power mobile influencers” by Forbes, as well as one of Inc. Magazine's top-30 Internet of Things experts.

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