RIM’s (RIMM) new BlackBerry Bold — the new 3G smartphone that’s supposed to compete with Apple’s (AAPL) iPhone — won’t come out on AT&T (T) until August, according to two reports today. The reports suggest this is a new delay, which would be bad news for RIM, which reports Q1 earnings this afternoon. But Wall Street seems to think this is old news.
RBC analyst Mike Abramsky says in a note today that the phone won’t come out until mid-August, 2-3 weeks past his previous estimate, as AT&T needs to “stabilise” the device on its 3G network. Meanwhile, mobile blog Boy Genius Report says the same thing, citing “two high-level sources” — BG says the phone is having issues with battery life and overheating, and hasn’t yet been certified for AT&T’s network.
But RIMM is only down 1% to $139.13.Why isn’t it flat-lining? Maybe because investors have been expecting it. In April, Fortune reported that the BlackBerry’s launch would be pushed back to “as late as August.” And BGR initially reported that the phone wouldn’t launch until “July/August,” before changing its prediction to July 17.
We’ve asked RBC’s Abramsky for clarification, and will update if we hear anything new. Meanwhile, he thought the delays were serious enough to whack a few cents off his August quarter projections for RIM: He expects Q2 guidance of $2.5-2.6 billion of revenue and $0.91-0.94 EPS, down from his previous estimate of $2.6-2.7 billion of revenue and $0.94-0.97 EPS. (Both still above consensus.)