BlackBerry (BBRY) began accepting pre-orders for its new Android-based handset, Priv. The price is $699 for an unlocked handset in the U.S.. The handset ships November 6th on GSM networks (AT&T and TMobile). This gives the company nearly 4 weeks to fill the channel before quarter end. In addition to the US, the phone is also available for pre-order in Canada and the U.K..

Wells Fargo Analyst, Maynard Um, believes the high ASP could impact demand elasticity. However, "every $20 increase in ASP would increase revenues by $17MM/3.4% and EPS by half a penny, all else equal".

No change to Market Perform rating.

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Shares of BlackBerry closed at $7.32 yesterday.