I have said it before and I will say it again: BlackBerry (NASDAQ/BBRY), formerly known as Research In Motion Limited, remains a non-factor in the highly competitive smartphone market.
The company, which had been edging higher on optimism from its new “Z10” and “Q10” smartphones, has yet to gain any traction based on its early numbers.
BlackBerry plummeted 23% on Friday morning, and there could be more disappointment to come for the company.
Chart courtesy of www.StockCharts.com
The first-quarter results were a train wreck for the company, which was betting the farm on its new line of smartphones that were years in the making and that many expected to gain significant market share.
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So far, while the phones appear to be gaining some acceptance, the company’s growth is clearly well below what BlackBerry’s CEO Thorsten Heins wanted.
The company’s first-quarter revenues managed to climb 13% year-over-year and 15% sequentially.
Smartphone shipments increased 13% sequentially to 6.8 million in the quarter; but that won’t cut it for this smartphone company.
Continue Reading: Why It Would Take a Miracle to Save BlackBerry Now