BlackBerry Q10 sells strongly in Canada, Britain: analyst

Fri May 3, 2013 12:22pm EDT
 
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By Euan Rocha

TORONTO (Reuters) - BlackBerry's new Q10 smartphone, which comes with the physical keyboard that many BlackBerry fans prize, is selling well in both Canada and Britain, an industry analyst said on Friday.

The company introduced the Q10, its second smartphone to run the new BlackBerry 10 operating system, in Canada and Britain this week.

"Our checks indicate broad sellouts with generally limited stock otherwise," Jefferies analyst Peter Misek said in a note to clients on Friday. "Based on our store checks, the BlackBerry Q10 has been selling extremely well and has been sold out or seeing limited availability in Toronto and across the U.K."

Jefferies, which has a "buy" rating on shares of BlackBerry, said its findings were based on checks with top mobile carriers and retailers in both countries, including Bell, Rogers and Telus in Canada, and Carphone Warehouse, Vodafone, and Orange in Britain.

BlackBerry hopes its new line of smartphones, led by the touchscreen Z10 device it introduced earlier this year, will help claw back market share lost to the likes of Apple Inc's iPhone and Samsung Electronics Co's wildly popular line of Galaxy devices, which are powered by Google Inc's Android operating system.

Shares of BlackBerry were up 2.2 percent at $16.04 in early trading in the United States on Friday, while its Toronto-listed shares were up 2.8 percent at C$16.21.

PENTAGON CLEARANCE

The Jefferies report came a day after the Pentagon gave the BlackBerry 10 devices, along with Samsung's mobile devices, security clearance for use on U.S. defense department networks.   Continued...

 
A woman uses her mobile phone at the Blackberry World Event in Orlando May 1, 2012. REUTERS/David Manning