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BlackBerry Hit by Lower-Than-Expected Shipments

Christina Medici Scolaro
Big Data Download
BlackBerry Hit by Lower-Than-Expected Shipments

Lower-than-projected phone shipments hurt smartphone maker BlackBerry in the first quarter: The company, which reported quarterly results on Friday morning, said it shipped 6.8 million phones in the period, while analysts were expecting shipments to come in at 7.4 million.

Hoping to reignite excitement and enthusiasm from customers, BlackBerry management has been full-steam ahead with the BlackBerry 10 operating system, but the company faces stiff competition from the Android and iOS operating systems.

BlackBerry 10 has been on the market for five months, and BlackBerry CEO Thorsten Heins is taking the long view. On the earnings call Friday, he told analysts, “BlackBerry 10 is still in the early stages of its transition; in fact, we are only five months into what is the launch of an entirely new mobile computing platform.”

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Michael Genovese, managing director at MKM Partners, told “Big Data Download” before the quarter results that he was looking forward to seeing global subscriber base numbers. BlackBerry’s installed base of subscribers fell to 72 million in the first quarter. Subscribers dropped to 76 million in fiscal fourth-quarter, from 79 million in the prior quarter.

Genovese has a “Sell” rating on BlackBerry.

Disclosure: Genovese does not own shares of BlackBerry.

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