Investor BlackBerry increase pressure on the company - Administrators

Reuters Reuters July 5, 2013

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The BlackBerry will likely face tough questions about his future at the annual meeting scheduled for Tuesday after disappointing quarterly results last week, which caused a drop of 28 percent in the share price the Canadian smartphone maker.

sales of the new line of BlackBerry smartphones in the quarter ended on June 1 were below analyst expectations, showing little evidence that the company can quickly regain market share from Apple’s iPhone, Samsung Galaxy, and other powered by Android, Google’s operating system.

“The results were almost a death sentence for the BlackBerry,” said John Goldsmith, deputy chief of shares of Montrusco Bolton, which has more than 1.5 million shares of the BlackBerry.

BlackBerry predicted another operating loss for the current quarter, but CEO Thorsten Heins said the company is on the right track and just need more time.

(By Euan Rocha and Nadia Damouni)

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