Analyst: BlackBerry Z10 return rates are normal, 2 to 3 new models coming

Analyst: BlackBerry Z10 return rates are normal, 2 to 3 new models coming
Jefferies analyst Peter Misek reiterated his buy rating on BlackBerry on Tuesday and contradicted Dentwiler Fenton analyst Jeff Johnston who claimed the other day that returns of the BlackBerry Z10 were exceeding sales at some of BlackBerry's major U.S. retail partners. BlackBerry CEO Thorsten Heins has refuted this report and so has Misek. The analyst notes that the biggest issue for those who have returned the BlackBerry Z10 is that they thought it had a physical QWERTY keyboard. Since it doesn't offer one, there were some who returned it and said that they would buy the BlackBerry Q10 when that phone launches.

 Detwiler Fenton has been bearish on BlackBerry even before BlackBerry 10 was introduced and we put a call in to them last week to see if they would give us a comment on their perennially bearish attitude toward the Canadian company, but so far they have failed to respond. BlackBerry has said that it would file a complaint with securities regulators in Canada and the U.S.

Meanwhile, Misek, who has placed a target of $22 on the stock, also said that he expects 2 to 3 new BlackBerry 10 models this year. He expects to see aQWERTY-equipped mid-range model, perhaps the BlackBerry "R-Series"  that recently surfaced, a mid-range all-touch model, and a 5 inch Z-10 which he expects toward the end of the year. This might be the high device that CEO Heins alluded to a few weeks ago. The executive said that this phone "takes Blackberry 10 to another level in terms of the user experience."

Misek expects BlackBerry's May and August earnings estimate to be hiked substantially. BlackBerry shares are currently trading at $13.92, up 21 cents on the day.

source: StreetInsider via Crackberry

Related phones

Z10
  • Display 4.2" 768 x 1280 pixels
  • Camera 8 MP / 2 MP front
  • Processor Qualcomm Snapdragon S4 Plus, Dual-core, 1500 MHz
  • Storage 16 GB + microSDXC
  • Battery 1800 mAh(10h 3G talk time)

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13 Comments

1. TheMan

Posts: 494; Member since: Sep 21, 2012

I've never been a fan of BB products, but I know that there remains a strong following. I still believe that delaying the Q10 launch was a mistake, but that's one man's opinion. It'll be better than, say the past year or two, but I don't see BB returning to its "Crackberry" glory days. One question: How do you buy a phone without realizing it doesn't have a QWERTY keyboard?

6. XPERIA-KNIGHT unregistered

By NOT, following up with what's going on I guess would be a start. Smh sometimes you wonder if people wouldn't question a swamp for alligators in it :(

7. jcpwn2004

Posts: 314; Member since: Jan 18, 2012

Where is this strong following? It's certainly not in the US. If your referring to less developed nations who are buying their older models like the bold/curve etc.... that's not a sustainable model for growth.

8. Hemlocke unregistered

It is, actually, but it is much stronger in Canada. BB10 is a great OS, but the Z10 suffers from uninspiring hardware.

9. GadgetsMcGoo

Posts: 168; Member since: Mar 15, 2013

People of less developed countries know the difference between "your" and "you're". Just saying.

10. Hemlocke unregistered

Forgive him, he's a Cheesehead, and he is still reeling from the Kaepernick drubbing.

11. DerryAhmad

Posts: 296; Member since: May 05, 2012

I think there are reports that the Z10 has been successful in Canada, UK and India. I think Brazil, South Africa and Indonesia also has big Blackberry following. The Z10 is a big hit in Indonesia, sold out in most major retail stores and it's price has raised since its launch day. And those are unlocked-non-subsidized flagship Blackberry phones.

2. smallworld

Posts: 517; Member since: Jul 13, 2012

Analysts -_-

3. Rehankhan

Posts: 323; Member since: Oct 24, 2012

good night =.=

4. alpinejason

Posts: 262; Member since: Sep 06, 2011

I agree

5. chocolaking

Posts: 495; Member since: May 22, 2012

I can see blackberry coming back in the future. tengible keyboard is truly the most efficient way for business or corporate user. but if their ios can be more open to others...it will be a great success!

12. apiskula

Posts: 578; Member since: Jan 25, 2013

Junk...RIP Blackberry your done!

13. Armor

Posts: 52; Member since: Dec 06, 2011

Blackberry back to #1!!!! GO BLACKBERRY!!!!!!!! Sales in the US are much better then you think. Just wait for the numbers to be announced later this QTR. Very good sales at Verizon, and 5 people that I work with switched from there iphone, or android phone after seeing my Z10.

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