RIM’s new BlackBerry phones faring well with enterprise, consumer adoption slow

Research In Motion’s new BlackBerry 7 smartphones are seeing strong initial sales among businesses looking to upgrade from older BlackBerry smartphones, however consumer sales have been weak according to Canaccord Genuity. In a research note, Canaccord analysts Mike Walkley and Matt Ramsay found during channel checks that upgrade sales of BlackBerry 7 devices in North America were quite strong with enterprise customers in August. Specifically, Verizon Wireless saw strong Bold 9930 upgrade sales among its substantial enterprise customer base, while AT&T and Sprint saw mixed sales. T-Mobile’s $300 Bold 9900 has not been selling well according to Canaccord’s checks. Read on for more.

 

Canaccord sees slow PlayBook sales as iPad 2 continues to dominate tablet market

Slower than expected sell-through of Research In Motion’s BlackBerry PlayBook tablet has prompted investment bank Canaccord Genuity to slash its sales estimates for RIM’s first tablet. BGR noted last week that Best Buy’s Labor Day sale likely indicated slow sell-through of at least one PlayBook model, and it looks like a recent round of checks jibes with our take. Canaccord analysts Michael Walkley and Matt Ramsay wrote in a research note that multiple retailers are seeing less than impressive sales of RIM’s slate. “Our August checks continue to indicate soft sales of RIM’s BlackBerry PlayBook with some retailers recently lowering prices on the device in attempt to move inventory,” the analysts said. As a result, Walkley slashed his full-year PlayBook sales projection substantially to 1.5 million units from earlier estimates of 2.2 million tablets. Read on for more.

Moving forward, the firm doesn’t see PlayBook sales picking up much in the near term, especially in light of the iPad 2′s continued domination of the tablet market. “With our checks indicating the iPad 2 continues to dominate sell through trends for the tablet market and our expectation for increased competition from Android OEMs such as Samsung, HTC, and even Amazon into the holiday season, we expected continued soft sales for the PlayBook,” the note states. Apropos, Canaccord lowered its 2012 PlayBook sales projection as well to 2.5 million tablets from an earlier forecast of 3.2 million units. Walkley reiterated his Hold rating on RIM stock with a price target of $35.

BGR

RIM urged by Jaguar Financial Corporation to sell itself or patents to anyone willing to buy

 

While the month of August brought about a lot of changes in the mobile space, now that we’re well rolling into September — it doesn’t seem as though that news is slowing down any. In fact, it seems as though things are just heating up more then ever. Samsung and Apple are having squabbles, Google’s Motorola acquisition raises more questions then it offers answers, and HP seems rather lost with what, exactly to do with webOS while gaining an influx of new webOS users. As for RIM, well — their investors’ concerns are still there.

RIM to announce Second Quarter Fiscal 2012 results on September 15, 2011

 

With the market being as crazy as it has been the past few weeks, and the ever watchful eye set on RIM stock, this Second Quarter Fiscal 2012 results call should be rather interesting. Kevin, and his whole one share of RIMM stock I’m sure will be tuned in so that may mean we’ll live blog it just in case they make an unexpected announcements, not very likely but you never know. Sidenote: Kinda funny they mention you can listen on your BlackBerry PlayBook.

Press Release

Carriers seeking an alternative to Apple, Google may turn back to BlackBerry

Research In Motion will benefit in the near term from the ongoing launch of its new BlackBerry 7 smartphones, which are being described as the vendor’s strongest devices in some time. Sterne Agee analyst Shaw Wu upgraded his rating on RIM stock to Buy from Neutral, increasing his price target to $35 from $28. Wu sees near-term opportunity in RIM, and he thinks new BlackBerry handsets like the Bold 9900 will be well received. ”The key differences this time include a refined user interface and improved hardware including faster processors, better graphics and displays as well as better build quality with its greater use of premium materials,” Wu wrote on Friday. “The company recently launched the new Bold 9900 and Torch 9810 and we see the upcoming launch of the full touchscreen Torch and new lower-end Curve in upcoming 1-2 quarters as future catalysts. RIMM has undoubtedly lost some customers but for loyalists still using 2-3 year old models, these refined updates are a worthy upgrade.” Read on for more.

Primecap doubles RIM stake in major vote of confidence

Pasedena, California-based investment management firm Primecap Management Co. recently doubled its investment in BlackBerry vendor Research In Motion. According to a recent regulatory  filing, Primecap now owns 26.4 million shares of RIM stock valued at about $577 million as of Monday’s close, and the stake represents approximately 5% of RIM’s total outstanding shares. According to Bloomberg, Primecap’s stake at the end of the second quarter of this year was approximately 2.5%. As numerous analysts continue to cut their price targets on RIM stock, Primecap’s continued investment represents a major vote of confidence in RIM’s new BlackBerry 7 phones and its future QNX phones as well, which are due to begin launching in the first quarter of 2012.

Read

via: bgr

Does This Mutual Fund Manager Know Something Analysts Don’t?

With all the doom and gloom coming from some financial analysts Gokulesh pointed out an interesting change in the last quarter. The Street is reporting that “The Yacktman Fund’s Donald Yacktman, The the mutual-fund manager with the best record in the past 10 years” has taken out a large stake in RIM during the second quarter. The Yachtman Fund has purchased 1.5 million shares of RIMM stock worth $43.3 million during the second quarter… They have also purchased quite a few shares of other companies that are being hammered on the stock market including Cisco, HP, Microsoft and News Corp.

It seems like not everybody is buying the “RIM is in a downward spiral” analyst predictions and betting big on RIM’s continued growth!

via:bbreview