Analyst: RIM's BlackBerry 10 OS doomed to fail
7th Nov 2012 | 21:59
Will RIM's worst fears be realised?
RIM's BlackBerry 10 operating system may be "dead on arrival" when it eventually launches in 2013, at least according to one analyst.
James Faucette of Pacific Crest Securities told investors that the long-delayed OS is unlikely to be met with real enthusiasm and, in all likelihood, will fail.
"We believe BB10 is likely to be DOA," he wrote, and effectively advised RIM shareholders to cash in their chips while they still can.
"We expect the new OS to be met with a lukewarm response at best and ultimately likely to fail," Faucette added.
The damning outlook consigned RIM shares to their biggest drop since June, sliding 9.1 per cent to $8.24 (UK£5.13/AUD$7.91) at the close of trading in New York.
RIM has continually insisted that it will not release the first wave of BB10 devices until the software is 100 per cent ready. The last estimate saw the ailing Canadian giant promise a Q1 2013 release.
The company is confident that BB10 can help it to regain its place among the smartphone elite, despite the delays that have seen the company fade from relevancy in 2013.
It also plans to license the software to third-party manufacturers for the first time in company history.
Whether Faucette's doom-laden prophecy comes to fruition or not, the fate of BB10 and handsets like the BlackBerry L-Series is sure to one of the biggest tech stories of next year.