Research In Motion Ltd (NASDAQ:BBRY) (TSE:BB)/Blackberry still have a hold rating and an $8 per share price target from Deutsche Bank AG (NYSE:DB) (ETR:DBK) analyst Brian Modoff. He did a survey recently to check how sales of the company’s BlackBerry Q10 handsets are doing. He noted “tepid reception” for the Q10 in the U.K., although the response was stronger in the company’s home country of Canada.
A Check Of 60 Stores For Research In Motion Ltd (BBRY)
Modoff said he checked 60 different stores within the past week, 30 of which were in Canada and 30 of which were in the U.K. He said of the U.K. stores, half of them were O2 stores, and the other half were Everything Everywhere stores, which include both T-Mobile and Orange. In Canada, he checked 10 Rogers stores, 10 Bell Stores and 10 Telus stores.
He said his team called the stores and asked questions that the average smartphone buyer would probably asked. They asked the representatives what their first choice of smartphone would be and then asked specifically about Research In Motion Ltd (NASDAQ:BBRY) (TSE:BB)’s new BlackBerry 10 platform.
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Next, they asked for a comparison of the platform to the iPhone 5 or the Galaxy S4. They rounded out the conversation by asking representatives what their best-selling smartphone was. Using the answers to these questions, they compiled a report based on retailers’ view of the BlackBerry 10 handsets.
Details About Research In Motion Ltd (BBRY) Results
According to Modoff, sales representatives in the U.K. didn’t volunteer the BlackBerry Q10 as one of their recommended handsets, although those in Canada were slightly more positive about it. He said the Q10 was selling well in most of the Canadian stores they contacted.
In their view, Research In Motion Ltd (NASDAQ:BBRY) (TSE:BB) did a better job in Canada because the sales reps there were “much more effusive” about the Q10. They said it makes sense since the BlackBerry maker is on its home turf in Canada.