Research In Motion Ltd (NASDAQ:BBRY) (TSE:BBB) is apparently trying to boost sales of its BlackBerry Z10 devices through an exchange plan in India, reports India Times’ Rutu Ladage. The news comes on the heels of the company’s very weak earnings report, which has sent its stock plummeting. Analysts now view the BlackBerry maker’s outlook as very bleak, and many expect that it will die a long, slow death.
Research In Motion’s Trade-In Plan
The trade-in plan offered by Research In Motion Ltd (NASDAQ:BBRY) (TSE:BBB) covers 17 cities in India and gives consumers a discount of up to 11,000 rupees on the BlackBerry Z10 in exchange for their old mobile phones. BlackBerry Bold 9900 users will receive discounts of up to 11,000 rupees, although BlackBerry Curve 8530 and other lower-end BlackBerry users will receive discounts of just 3,000 rupees.
Discounts for users of other smartphones will also be offered, although the company said those discounts will be offered at the retailer’s discretion. Approximately 1,400 retailers will be participating in the BlackBerry exchange program. It will last for about a month.
At this year's SALT New York conference, Wences Casares, the chairman of XAPO, and Peter Briger, the principal and co-chief executive officer of Fortress Investment Group discussed the macro case for Bitcoin. Q2 2021 hedge fund letters, conferences and more XAPO describes itself as the first digital bank of its kind, which offers the "convenience" Read More
Currently the BlackBerry Z10 is being sold for between 37,500 and 42,490 rupees in India. The company’s touchscreen BlackBerry model has been especially struggling against low-end Android devices and also the high-end offerings from Apple and Samsung. Its Q10, the QWERTY keyboard version, has done slightly better, although the company has yet to make a recovery.
Will The BlackBerry Exchange Program Be Enough?
Analysts at numerous firms are now doubtful that anything can save Research In Motion Ltd (NASDAQ:BBRY) (TSE:BBB). Many of them downgraded the company’s stock after Friday’s poor earnings report. Today MarketWatch’s Therese Poletti reports that the BlackBerry maker’s death will be long, slow and drawn-out.
The company’s management has said 2014, which is the company’s current fiscal year, will be a transition year and that 2015 will be the year of full recovery, but analysts believe it will run out of cash before it makes a full recovery. Some believe that it was a mistake for Research In Motion Ltd (NASDAQ:BBRY) (TSE:BBB) to stay with its own operating system, which is making it difficult for the company to stand up to iOS, Android and even Windows Phone operating systems.