Analysts at RBC Capital Markets believe that the recently launched Blackberry Qwerty Q10 device of Research In Motion Ltd (NASDAQ:BBRY) (TSE:BB) could spark an enterprise cycle upgrade, and it might attract message-centric users to purchase the device.

blackberry Q10

RBC Capital Markets analysts Mark Sue and Paul Treiber cited many of the existing enterprise and message-centric Blackberry users skipped the Blackberry Z10 and waited for the availability of the Blackberry Q10. According to them, it takes time to ramp up enterprise demand and the shift towards BYOD is undeniable.

Sue and Teiber noted that crowds formed during the exclusive launching of Research In Motion Ltd (NASDAQ:BBRY) (TSE:BB)’s Qwerty Q10 device at Selfridges in the United Kingdom this weekend. The analysts said the initial sell-through of the Q10 device is promising for its launch in Canada and the United Kingdom, which are the two loyal markets of Blackberry. They also stated that it is too early for them to project early ramp in other end markets.

Research In Motion Ltd (NASDAQ:BBRY) (TSE:BB)’s Q10 devices will be available in other retail stores today in the United Kingdom, and on Wednesday in Canada. The launching of the device in the United States is scheduled in the latter part of May. According to Sue and Treiber, surveys indicated that customers are more interested in the Blackberry Q10 than the Blackberry Z10.

Sue and Treiber raised their estimates for shipments of Blackberry 10 from 2 million to 2.75 million for the May quarter due to the potential increase of enterprise demand and broad distribution of the device. They maintained their 10.7 million estimate for Blackberry 10 for the fiscal 2013.

In a note to investors, Sue and Treiber wrote, “There’s a bit of pent up demand for the new Q10. We’re increasing our near-term assumptions on better-than-expected demand for the Q10 and regional expansion of the Z10. CY estimates remain at 10.7M units. We see the stock range bound between $12 -$18 and largely drive by sentiment.”

The analysts also believe that global smartphone unit growth is healthy, and estimated that the industry will ship approximately 870 million units this year, a 26 percent increase year-over-year. They noted that competition will increase and the differentiation between smartphone devices will become harder even among the largest manufacturers with the highest R&D resources.

Sue and Treiber opined, “With additional S&M expenses required to push each incremental unit, Blackberry may also have to respond by spending more to gain mindshare and ultimately shelf space at the carriers.”

The stock price of Research In Motion Ltd (NASDAQ:BBRY) (TSE:BB) is up by almost 4 percent to $15.61 per share on Monday after trading hours in New York.