BlackBerry Disputes Reports of High Z10 Return Rates

Shares of BlackBerry (NASDAQ: BBRY  ) fell 8% yesterday following reports that the company's new Z10 flagship smartphone was seeing unusually high return rates. The company fired back this morning, disputing the findings of an investment firm's report and saying it would seek an SEC review of the report.

The Wall Street Journal on Thursday cited a report from Detwiler Fenton that claimed that Z10 returns were outnumbering sales in the U.S., a scenario that Detwiler has "never seen before." The WSJ also noted a separate report from ITG saying that the Z10 launch began poorly and has "weakened significantly." The Z10 launched in the U.S. in late March.

BlackBerry issued a press release today disputing what it calls "false reports on return rates." The company is requesting that regulators in both the U.S. and Canada investigate the "false and misleading report" about retail return rates, saying that sales of the Z10 are meeting expectations. CEO Thorsten Heins said retail and carrier data show that customers are satisfied with the Z10, and return rates are at or below its forecasts and in line with the broader industry.

The company said that Detwiler Fenton would not share its report or methodology with BlackBerry, even after the smartphone maker disputed the findings.


Read/Post Comments (0) | Recommend This Article (1)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Compare Brokers

Fool Disclosure

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2360882, ~/Articles/ArticleHandler.aspx, 9/28/2016 4:51:57 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Today's Market

updated 7 hours ago Sponsored by:
DOW 18,228.30 133.47 0.74%
S&P 500 2,159.93 13.83 0.64%
NASD 5,305.71 48.22 0.92%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes

Related Tickers

9/27/2016 4:00 PM
BBRY $7.88 Up +0.06 +0.77%
BlackBerry CAPS Rating: *