“Blackberry maker Research in Motion Ltd (RIM) is likely to preannounce poor February quarter results and forecast a ‘very weak’ May quarter on lower sales of its phones, according to Jefferies & Co analysts,” Sruthi Ramakrishnan reports for Reuters.
“‘There is a greater than 50 percent chance that RIM will negatively pre-announce the February quarter,’ said analyst Peter Misek,” Ramakrishnan reports. “Sales of both RIM’s low-end and higher-end phones continue to be challenged, with the company’s higher-end handsets doing poorly outside of enterprise sales on continued momentum of Apple Inc’s iPhone 4S and Google Inc powered Android smartphones, said Misek.”
Ramakrishnan reports, “The likely launch of the iPhone 5 ahead of the BB10 — which is expected in September — is particularly troubling, said Misek, who cut his price target on RIM’s U.S.-listed shares to $12 from $15.”
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