Canadian handset maker BlackBerry Limited (BBRY) has received a phenomenal 200,000 orders for its latest square-shaped 4.5-inch screen HD support smartphone – “Passport”.
This is indeed news given that the company unveiled this smartphone barely few days ago on Sep 24, simultaneously at events in Toronto, London and Dubai. With the release of Passport, BlackBerry hopes to win back lost corporate and government customers.
Chief Executive John Chen has particularly stated that the pace at which orders are pouring in for the square-shaped phone is significantly better than recent handset sales of peers.
Suitable for reading e-books, viewing medical charts and other documents, this smartphone will display 60 characters in a single line instead of the traditional 40 characters. The phone has a 30-hour battery life along with 3GB of RAM and 32GB of storage space. Passport is priced at $599 without a contract in the U.S, which is more pocket-friendly compared to the likes of Apple Inc.’s (AAPL) latest iPhone6 or iPhone Plus and Samsung Galaxy S5. BlackBerry also plans to launch a new classic phone at the end of this year.
Ever since the iPhone hit the market, BlackBerry has faced intense competitive pressure. The situation worsened further with Google Inc. (GOOG) launching its Android operating system and several handset manufacturers adopting the same.
On Sep 26, 2014, BlackBerry reported second-quarter fiscal 2015 adjusted net loss per share of 2 cents, which was significantly narrower than the Zacks Consensus Estimate of a loss of 17 cents. Total revenue of $916 million deteriorated significantly from 1,573 million in the year-ago quarter but came in line with the Zacks Consensus Estimate. We believe the unique square-shaped BlackBerry Passport phone should help reinvigorate the company’s smartphone sales and market share, aiding the segment to return to profitability.
A Stock that Warrants a Look
BlackBerry currently has a Zacks Rank #3 (Hold). China Mobile Limited (CHL), with a Zacks Rank #1 (Strong Buy), is a better-ranked stock worth considering in the wireless industry.
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