BlackBerry Partnership: Less Than Meets the Eye?
While BlackBerry’s (NASDAQ:BBRY) announcement that one of its partners was buying a boatload of its newest smartphone might have wowed investors at first, some may now feel deceived, as guesses on who that partner may be have narrowed down.
BlackBerry’s history has been a rollercoaster ride. BlackBerry initially rose through the ranks to become a top cellphone brand in the U.S.; it was even arguably the first smartphone maker. But then, from its height, Apple’s (NASDAQ:AAPL) iPhone and devices based on Google’s (NASDAQ:GOOG) Android sent it falling down toward marginality.
In January, BlackBerry tried to turn around its downward slide with the launch of a new operating system, BB10, a fully-touchscreen smartphone that could go toe-to-toe with other smartphones on the market, and a new name. But, BlackBerry doesn’t have the market sway it once had, and putting a phone out amid tense competition would not be easy.
Although the new device has launched in Canada and the UK already, the U.S. is just receiving them this month, and BlackBerry may have excited investors earlier this month when the company said that a partner ordered 1 million BlackBerry phones. That announcement triggered a jump of more than 8 percent in BlackBerry’s shares. However, those investors may not have been overly excited…