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Analyst cuts RIM forecast because of no BlackBerry licensing deals

By Michael Heller

Published: Feb 03, 2012, 4:39 PM

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The future hasn't been looking very good for RIM for a while now, but some believed that the possibility of RIM opening up its platform or products would help the company fight through, but at least one analyst thinks that won't be happening.

Late yesterday, Jefferies analyst Peter Misek downgraded RIM's rating from "Hold" to "Underperform" and dropped the target share price from $17 to $15. Misek says that he believes that RIM will "abandon its OS licensing plans", meaning not only that BlackBerry will stay only on RIM hardware, but also that the company will abandon plans to make services like BlackBerry Messenger cross-platform.

There had been rumors that BBM would make its way to Android and iOS, but at the least Misek doesn't believe that will happen. Misek says that he does like new RIM CEO Thorsten Heins, and that Jefferies believes that BlackBerry 10 is an "excellent OS", but even delaying plans to license BB10 by a year is a "mistake".

source: Forbes

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Michael Heller is known for his clear and informative articles on mobile technology. He explores important topics such as the rollouts of 5G networks and the advancements in mobile payments, offering readers insights into the evolving tech landscape.