BlackBerry fell the most in two months after analysts said sales of its new Z10 device are showing troubling signs. The company denied one of the reports.
BlackBerry slid 7.8 percent to $13.55 at the close in New York, the biggest decline since Feb. 13.
The U.S. launch of the Z10 started poorly and weakened significantly as the days passed, Joseph Fersedi, an analyst at ITG Investment Research, said today in a note, citing information from independent dealers.
Some U.S. retailers are seeing a significant increase in customers returning their Z10s because they find the interface unintuitive, Detwiler Fenton & Co. said today.
In several cases, returns are now exceeding sales, a phenomenon we have never seen before,
BlackBerry called Detwiler Fenton’s claim “absolutely false”,
“Our data shows that return rates for BlackBerry Z10 devices both in the U.S. and on a global basis are in line with or better than our expectations and are consistent with return rates for other premium smartphones in the market today,”