With Dwindling BB10 Sales, Wall St. Firms Hold Off on BlackBerry (BBRY) Upgrades
Tweet
Share
E-mail
Get Alerts BBRY Hot Sheet
Join SI Premium – FREE
About that BlackBerry (Nasdaq: BBRY) upgrade...
Venerable Wall Street firm Morgan Stanley is pausing an expected upgrade to its employees' BlackBerry upgrades due to concerns that the company will not back its BB10 platform on a long-term basis.
Instead, Morgan Stanley is sticking with older BlackBerry 7-equipped models to assure that support will continue. BB7 was introduced by BlackBery in 2011.
News from Morgan Stanley comes as recent reports have dismal BB10 sales numbers for both the BlackBerry Q10 and Z10 smartphones. With a smaller user base than BB7, the firm suspects that BlackBerry won't be willing to spend the money to support it. Another factor playing into Morgan Stanley's decision is an announcement a few sessions ago that BlackBerry management would be exploring strategic alternatives for the company.
Morgan Stanley isn't the only large financial institution dipping its toe in the water; Bloomberg reports Friday that a large U.S. bank with over 100,000 employees has begun a "pilot program" of sorts, with 100 employees using and testing BlackBerry 10 devices with their day-to-day activities.
Sentiment has shifted from BlackBerry being king of the enterprise hill, to names like Apple (Nasdaq: AAPL) and Google (Nasdaq: GOOG) beefing up their respective operating systems -- iOS and Android, respectively -- enough to allow larger corporations to take a second look and potentially switch over to the newcomers.
BlackBerry is lower in early trading Friday.
Venerable Wall Street firm Morgan Stanley is pausing an expected upgrade to its employees' BlackBerry upgrades due to concerns that the company will not back its BB10 platform on a long-term basis.
Instead, Morgan Stanley is sticking with older BlackBerry 7-equipped models to assure that support will continue. BB7 was introduced by BlackBery in 2011.
News from Morgan Stanley comes as recent reports have dismal BB10 sales numbers for both the BlackBerry Q10 and Z10 smartphones. With a smaller user base than BB7, the firm suspects that BlackBerry won't be willing to spend the money to support it. Another factor playing into Morgan Stanley's decision is an announcement a few sessions ago that BlackBerry management would be exploring strategic alternatives for the company.
Morgan Stanley isn't the only large financial institution dipping its toe in the water; Bloomberg reports Friday that a large U.S. bank with over 100,000 employees has begun a "pilot program" of sorts, with 100 employees using and testing BlackBerry 10 devices with their day-to-day activities.
Sentiment has shifted from BlackBerry being king of the enterprise hill, to names like Apple (Nasdaq: AAPL) and Google (Nasdaq: GOOG) beefing up their respective operating systems -- iOS and Android, respectively -- enough to allow larger corporations to take a second look and potentially switch over to the newcomers.
BlackBerry is lower in early trading Friday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Alphabet (GOOGL) soars 16% on Q1 results beat, first-ever dividend
- Primerica (PRI) Responds to Misinformation About the Company
- IBM tumbles on soft Q1 revenue; announces HashiCorp $6.4bn acquisition
Create E-mail Alert Related Categories
Hot Corp. News, Insiders' BlogRelated Entities
Morgan StanleySign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
