Goldman Sachs Calls RIM's (RIMM) BlackBerry Torch Launch "Underwhelming"

August 16, 2010 8:01 AM EDT
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Goldman Sachs commented on Research In Motion Ltd. (Nasdaq: RIMM) following the August 12th launch of the new BlackBerry Torch. They firm called the launch "underwhelming."

The firm noted that nearly all of the stores they called did not sell out of the device. Also the checks showed that the vast majority of Torch sales were driven by upgrades from existing BlackBerry subscribers.

In contrast, the firm said checks showed continued strength for high-end Android models like the Droid X and HTC EVO. The firm said this positive for QUALCOMM (Nasdaq: QCOM) and Motorola Inc. (NYSE: MOT) and a negative for RIM.

The firm has a Sell rating on RIM.

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