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Is It “Game Over” For RIM?
June 11, 2012 by admin
Filed under Smartphones
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Research In Motion’s share price on Monday fell to less than $10 on Nasdaq, a breach that technical analysts say could prompt even further declines, after an analyst warned that the BlackBerry maker’s sales were dismal last month.
The stock, which is trading at its lowest since 2003, has fallen nearly 15 percent in the past week alone.
After an announcement last week that RIM expects to post a quarterly operating loss, sentiment is extremely bearish on the stock, said Elvis Picardo, a strategist at Global Securities in Vancouver.
To make matters worse, Pacific Crest analyst James Faucette said in a note to clients on Sunday that RIM sales deteriorated further in May.
On Monday, RIM’s shares fell 5.8 percent to $9.66 on the Nasdaq, while its Toronto-listed shares closed on Monday 6.1 percent lower at C$10.03.
“You would have expected the C$10 level to have provided pretty strong support, but if it cracks through that it’s really hard to say where this decline will stop,” said Picardo.
RIM, which almost invented the concept of on-the-go email with its first BlackBerry device in 1999, has seen its once dominant position fade in the face of competition from Apple Inc’s iPhone and devices from the likes of Samsung Electronics Co using Google Inc’s Android software.
Sprint Finally Gets The iPhone
October 10, 2011 by admin
Filed under Smartphones
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Sprint Nextel confirmed that it will offer the next version of Apple Inc’s iPhone, ending months of speculation about whether it would become the third U.S. carrier to sell the popular device.
But the No. 3 U.S. mobile provider would not say whether its iPhone would come with a flat-fee service for unlimited data use – an offering analysts see as Sprint’s only hope for making its iPhone more competitive than rivals.
While selling the device should help Sprint keep subscribers from fleeing to other operators, some analysts worried whether the costs would outweigh the benefits because Apple phones come at a steep premium to other devices.
This is a huge gamble for Sprint and people are justifiably worried that they won’t be able to make any money doing it. It’s not a company that’s in great financial shape right now,” said Stifel Nicolaus analyst Chris King.
Analysts questioned how Sprint will be able to find the money to pay a premium to Apple on top of its obligations to pay back billions of dollars in debt and its plan to spend about $5 billion on an network upgrade in coming years.