Everyone knows Waterloo’s Research In Motion has been struggling these past couple of years, losing marketshare in key regions and slowly slipping into irrelevancy as Apple and Google continue to deliver intense competition. But we still didn’t think it was this bad.
Pacific Crest analyst James Faucette is seeing an astonishing lack of consumer interest in RIM’s BlackBerry smartphones in the US, a major market for RIM. He offers nothing but grim words in his latest note, though one sentence is particularly striking.
We found a meaningful number of carrier retail locations which had not sold a single BlackBerry in over a month.
No matter which way you slice it, this is a serious sad state of affairs for RIM. The company is pinning its hopes on BB10, but that won’t come until 2013, after Apple launches the next-gen iPhone, after Nokia releases its new flagship Lumia, and after Windows Phone 8 is in full operation.
It will be hard to convince retailers to save shelf space for RIM next year when no one is buying BlackBerrys today. But investors haven’t quite lost all faith: despite the bad news, RIM shares climbed nearly 5% in trading today.
When reached for comment, a RIM spokesperson reiterated the company’s confidence in BlackBerry 10 software and hardware to AllThingsD: “We remain focused on the successful launch of BlackBerry 10, scheduled for the first quarter of calendar 2013, and believe the delivery of high quality, fully-featured BlackBerry 10 smartphones will be an attractive offering to our customers.”