Checks Show Blackberry (BBRY) May Lose Relevance in India
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Rating Summary:
25 Buy, 33 Hold, 5 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 22
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Deutsche Bank checks in India point to increased skepticism regarding Blackberry's (Nasdaq: BBRY) turnaround efforts. The firm recently conducted a survey of the India handset market, and based on analysts' conclusions there is mounting pressure on Blackberry and Nokia (NYSE: NOK).
"Unfortunately, the story of Nokia in India could be a harbinger of what is to come for Blackberry, as a unit decline in sales of low-end devices has not been mitigated by a refreshed, high-end line-up," said analyst Brian Modoff.
He thinks by the time the BlackBerry gets around to launching a low-priced BB10 the company will have lost relevance. This decline could be helpful to other vendors including Samsung, Apple (Nasdaq: AAPL), HTC, and Sony (NYSE: SNE). A break down respondents' current handset ownership compare to the past two years showed share loss for Nokia and Blackberry, and gains for Samsung, Apple and HTC.
"We would note that all of these remain Qualcomm (Nasdaq: QCOM) customers. Moreover, we think the growing use of 3G data in the country bodes well for the company," said Madoff.
Deutsche Bank has a Buy rating on Qualcomm with a price target of $85.00.
For an analyst ratings summary and ratings history on Qualcomm (Nasdaq: QCOM) click here. For more ratings news on Qualcomm click here.
Shares of Qualcomm closed at $65.86 yesterday.
"Unfortunately, the story of Nokia in India could be a harbinger of what is to come for Blackberry, as a unit decline in sales of low-end devices has not been mitigated by a refreshed, high-end line-up," said analyst Brian Modoff.
He thinks by the time the BlackBerry gets around to launching a low-priced BB10 the company will have lost relevance. This decline could be helpful to other vendors including Samsung, Apple (Nasdaq: AAPL), HTC, and Sony (NYSE: SNE). A break down respondents' current handset ownership compare to the past two years showed share loss for Nokia and Blackberry, and gains for Samsung, Apple and HTC.
"We would note that all of these remain Qualcomm (Nasdaq: QCOM) customers. Moreover, we think the growing use of 3G data in the country bodes well for the company," said Madoff.
Deutsche Bank has a Buy rating on Qualcomm with a price target of $85.00.
For an analyst ratings summary and ratings history on Qualcomm (Nasdaq: QCOM) click here. For more ratings news on Qualcomm click here.
Shares of Qualcomm closed at $65.86 yesterday.
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