A headline yesterday in Canada was more akin to the tone of those we were used to seeing before the launch of BlackBerry 10, on January 30th.
“BlackBerry shares fall 8 per cent as hype over smartphone launch wears off” was the title of a piece by The Canadian Press’s David Friend, which quoted research from National Bank Financial analyst Kris Thompson, who said the new BlackBerrys are unlikely to convert current Apple or Samsung users.
Monday was BlackBerry’s fourth consecutive day in the red, a slide that chopped more than three dollars from its share price, from $16.97 to $13.96, on the TSX.
After what was a generally positive reception to the launch of its overdue new platform, including positive reviews from influential tech writers Walter Mossberg of The Wall Street Journal and David Pogue of the New York Times, who raved about the Z10, BlackBerry is into the less glamorous business of continuing the logistics of the rollout.
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While its stock may be on shaky ground again, new data shows that the BlackBerry brand is undergoing a serious revival.
YouGov’s Brand Index says BlackBerry “is enjoying its best consumer perception in the US since September 2011 in the wake of its new smart phone line announcement.”
YouGov BrandIndex’s Buzz Score, which polls consumers, revealed that BlackBerry was literally nowhere in December, with a Buzz Score of zero. Since then, its score has spiked to 7, not high, but lessening the gap between itself and Apple, which has fallen to 17 from a 2012 peak of 38. Samsung’s Galaxy brand came in with a 16 score, showing the smartphone race may be tightening up, and the Apple i anything may have lost some cache.
Apple ranked second in Interbrand’s recent Best Global Brands 2012 report, behind Coca-Cola and ahead of IBM and Google. BlackBerry was 93rd, having fallen a whopping 37 places in the time since the 2011 report.
YouGov says its data reveals that 43% of BlackBerry owners now expect to purchase another BlackBerry, up from just 18% in April-June of last year.
Founded in 2000, UK-based YouGov is an internet-based market research firm. The YouGov Group has 21 offices worldwide, and notable clients such as The Guardian, The Economist, The Huffington Post, and CBS News.
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What’s troubling is that BB stock is taking very real hits on “news” that really doesn’t amount to anything more than speculation. Kris Thompson is entitled to his opinion, and I’m sure it’s a very well-informed one, but he doesn’t back his assertions up with any hard data.
Forbes quoted another analyst the other day who said he “didn’t think” US carriers would be that supportive (again, with no evidence to support the assertion). Unfortunately, Forbes headlined this item with “US Carriers Not Hopeful, Analyst Says”, which comes across as somewhat more definitive, and it seems to have affected market sentiment.
In the end, for long-BB investor like me, these are minor tremors. At times they’re even decent opportunities to buy in. BB10 has been VERY well-received, and appears to be selling well. Maybe more important, the company has been carefully rebuilding a reputation for great execution. I think they’ll continue.
Brett, thanks for your post.
I think to block out the noise on BlackBerry and concentrate on the facts has been an exercise that will serve those who follow the company well in the future, with other investments.
BlackBerry has had its struggles, but much of what we read serves the daily news cycle and nothing more.
We have been accused of being pro-BlackBerry here, and I will accept that, but I honestly feel we have been looking to balance a lot of negative hysteria and that our reportage has to be read in the context of the hysterical and reflexive takes on the company that have become the norm.
Almost without fail, every multi-billion dollar company has had times when it looked like the end was near. Multiply this by ten for companies in the consumer electronics space.
National Bank analyst was having a recommendation for buying PoseidonConcept before the disaster of last week, so the advice on Bb is worth nothing for the future for the long haul.